British Business Investments, the commercial arm of the British Business Bank, has announced an initial £20 million funding facility for Sprk Capital. The transaction aims to boost finance for UK small businesses engaged in cutting-edge research and development (R&D) and innovation.
Sprk Capital is the UK’s only dedicated innovation lender to secure backing from British Business Investments.
Specialising in advanced funding, Sprk provides small businesses with early access to funds secured against their R&D Tax Credits and Innovation Grants.
This support is designed to address the cashflow challenges faced by research-intensive businesses through non-dilutive debt with founder friendly terms.
This strategic move highlights the growing focus on empowering the UK’s innovation sector, ensuring it continues to thrive in a competitive global landscape.
In addition to this we're proud that our existing investors have backed a £2.8m growth capital raise to support Sprk's investment into innovation finance.
This was done at a significant premium to our last equity round.
A full copy of the release is attached and available at Announcements | Non-Dilutive Funding | SPRK Capital
Contact the team at Sprk to discuss your clients' innovation funding requirements.
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