Forward Advances’ new leaders raise £2.2 million to build fully customisable financing solution for entrepreneurs
London, March 11.03.21: Forward Advances, the revenue-based finance subsidiary of early-stage venture fund Forward Partners, announces today a raise of £2.2m and the appointment of a new leadership team, to provide bespoke fundraising for entrepreneurs.
The business is now being led by Managing Director, former Paypal executive & entrepreneur Hasam Silva, alongside Investment Associate, Brendon Ferreira, who joins from Forward Partners.
Aimed at fast-growing e-commerce and SaaS businesses who need funding to grow Silva and Ferreira are determined that funding should be more accessible and supportive for entrepreneurs.
The duo have raised £2.2 million from Forward Partners to support the next round of investments in successful founders looking to scale their online businesses without the downsides of traditional funding routes.
Launched in April 2020, Forward Advances has already supported 30 clients in fostering growth. . The solution funds digital ads and inventory allowing businesses to grow, and customers then in turn repay out of their future sales. The company charges a one off-fixed fee for the service. No late fees, securities or guarantees which often come with traditional forms of financing.
Forward Advance’s in-house studio team supports founders beyond just providing capital by working with them to advise on everything from their growth marketing strategy, effective spend and even guiding them on the fairness of future term sheets & investment offers.
Both Silva & Ferreira are guided by a passion for democratizing and individualising entrepreneurial funding, helping entrepreneurs who may not have access to traditional capital raising methods such as VC, PE or crowdfunding and also making sure it works for them and their business.
Hasam Silva comments:
“Access to funding is one of the biggest limitations of growth and expansion for small businesses. We offer an approach that negates the downsides of traditional funding routes and makes funding more accessible to founders. I’m proud to be leading a team that is helping to bring a more diverse and less transactional approach to funding.”
The raise will allow Forward Advances to continue to grow and fund new businesses while expanding their team and offering.