Fuel Ventures Leads £1.5M Investment in Groov to Drive Next-Gen Embedded Lending

Fuel Ventures, a leading UK venture capital fund, has led a £1.5 million Seed funding round in Groov, a leader in embedded lending. 

Supported by Aperture and a select group of industry-focused angel investors, this investment has aided Groov in its commitment to fostering transformative technology that addresses the needs of small and medium-sized enterprises (SMEs).

Groov’s mission is to bridge the $1.2 trillion funding gap faced by SMEs worldwide by delivering capital that is accessible, flexible, and available precisely when and where it’s needed. Through their innovative Embedded Lending 2.0 approach, Groov’s APIs empower B2B SaaS platforms to seamlessly integrate lending products directly into user journeys—whether it’s for purchasing stock, covering marketing expenses, or managing sales invoicing. 

A key innovation of Groov’s platform is its lender-agnostic approach, which opens access to a broad array of capital solutions for SMEs. This flexibility allows SaaS platforms to offer competitive terms, high approval rates, and a range of financing options, helping SMEs secure the best possible capital on their terms. For lenders, Groov provides access to a broader client base and reduces customer acquisition costs, making it a win-win for all stakeholders.

Mark Pearson, Founder of Fuel Ventures, commented: “When speaking to Mark Hazzard (CEO) and Rakesh Jena (CTO), we immediately saw that they were onto something special. Their vision for innovating the SME capital space is bold and inspiring, and at Fuel Ventures, we embrace that kind of thinking. The combination of their cutting-edge platform and the strength of their team made us confident in our decision to invest in Groov.”

Mark Hazzard, CEO of Groov, said: “We’re incredibly excited to partner with Fuel Ventures and our other investors. This investment is a strong validation of our vision to responsibly empower SMEs with access to capital on their terms, exactly when they need it.”