Altrincham Fintech firm secures £15m funding

Julia Throop, Managing Director of PayBreak, said: “This additional support from Paragon will only help us go from strength to strength and achieve our plans to reach more clients.

“By using innovative ideas and technology, we have found a fresh and useful way to help retailers provide flexible finance to their customers and we want to tap into a growing demand for that.”     

Lewis Fitzsimons, a Director in the Structured Lending team at Paragon, added: “Our aim at Paragon is to help UK non-bank lenders reach their potential, so we are delighted to support PayBreak with its continued significant growth.

“Paragon finances specialty lenders with excellent management teams and our relationship with PayBreak is a great example of how we are supporting this sector.”

The latest funding follows a deal with SME lender Liberis, which was part of an overall £57.5m funding package to support UK small businesses.