London-based equipal has secured £16.25 million in combined funding from Altum Capital Management, as the equipment finance platform looks to expand in the UK asset finance market.
The package includes a £1.25 million equity investment and a £15 million forward flow facility made up of initial full lease funding and contingent junior funding, with Altum Capital providing both the capital injection and the funding capacity.
Equipal provides point-of-sale asset finance through a proprietary platform used by more than 75 equipment vendors across the UK. The company supports equipment purchases of up to £250,000 across sectors including manufacturing and transport, financing assets such as CNC machines and coaches.
The new funding is expected to support growth, hiring across business development, marketing, operations, credit and data, and wider lending to UK manufacturers and engineering businesses investing in machinery, automation and production technology.
The package includes a £1.25 million equity investment and a £15 million forward flow facility made up of initial full lease funding and contingent junior funding, with Altum Capital providing both the capital injection and the funding capacity.
Equipal provides point-of-sale asset finance through a proprietary platform used by more than 75 equipment vendors across the UK. The company supports equipment purchases of up to £250,000 across sectors including manufacturing and transport, financing assets such as CNC machines and coaches.
The new funding is expected to support growth, hiring across business development, marketing, operations, credit and data, and wider lending to UK manufacturers and engineering businesses investing in machinery, automation and production technology.