AMP secure follow on Series A funding from Route 66 Ventures
26th March 2015
AMP Credit Technologies have secured follow on series A funding from Route 66 Ventures.
The latest round, which comes only weeks after AMP officially launched in the UK, is a follow on from investment raised in November 2014 from SBT Venture Capital.
AMP plan to use this latest funding to accelerate the development of the company’s new technology platform. The company enable banks to take advantage of advanced lending capabilities in order to offer short-term unsecured loans to small businesses.
Thomas J. DeLuca, CEO of AMP, was keen to celebrate the investment from Route66 Ventures. The East Cost venture firm specialise in investing in fintech firms with high growth potential.
“We are delighted that Route66 Ventures has chosen to invest in AMP. This represents a strong validation of our business vision of empowering banks and business service providers to use our alternative lending technologies for the benefit of their small business customers in a manner that is equitable, clear and fully transparent to the borrowers. We look forward to partnering with Route 66 in AMP’s growth journey as we take alternative lending to the next level by providing a better financing option to small businesses in filling their cash flow gaps and benefiting the wider business community,”
Pascal Bouvier, General Partner at Route 66 Ventures, was also in celebratory mood. Stating that they had discovered a ‘truly special case’ in AMP.
“As an international investment firm focused on the financial services industry, we are continuously looking for disruptive platforms and amazing teams that are revolutionising the way businesses and people consume financial services. We are excited to say that we have found a truly special case in Advanced Merchant Payments”