Equipal Secures £16.25 Million to Fund Advanced Manufacturing Equipment

Fintech firm equipal has announced securing £16.25 million in combined equity investment and forward flow funding. This capital injection is intended to assist businesses in their acquisition of advanced production technology, with a specific focus on additive manufacturing equipment.

The funding package comprises a £1.25 million equity investment and a £15 million forward flow facility, which includes initial full lease funding and contingent junior funding. Altum Capital is providing both the equity and the funding capacity for this operation.

Equipal operates a proprietary, point-of-sale integrated platform used by over 75 equipment vendors across the UK. This platform facilitates rapid, automated asset finance for equipment purchases up to £250,000, streamlining the process for vendors and their customers. While equipal serves various sectors, this investment will be primarily directed towards supporting those seeking to acquire advanced manufacturing equipment and technologies.

The company previously supported Incremental-AM in financing a £66,000 3D printer from a US manufacturer, with the entire transaction managed through equipal's online platform, reportedly completed within hours. Equipal aims to offer a faster and simpler alternative to traditional asset finance through its fully digital, integrated online system. The new funding will also fuel equipal's expansion, including hiring across multiple departments to grow its team to 12 within the next year.