Fintech firm Equipal closes £16m backed by Altum Capital Management
This article covers Equipal, a fintech startup, which has closed a growth funding round of about £16.25m from Altum Capital Management, comprising a £1.25m equity investment and a £15m forward flow facility. The package provides committed lending capacity to finance purchases up to £250,000, enabling Equipal to support SMEs and fleet operators with higher‑value vehicle and equipment finance and to scale originations.
Equipal, a fintech startup, has closed a growth funding round of about £16.25m from Altum Capital Management — a package made up of a £1.25m equity investment and a £15m forward flow facility that will let the company provide asset finance on purchases up to £250,000, including commercial vehicles. The deal matters because it pairs fresh balance-sheet capital with committed lending capacity at a time when small and medium-sized businesses are still wrestling with cost pressures and fleet replacement cycles.
Why it matters
Asset finance is a core route for UK firms to acquire vehicles and equipment without large upfront cash outlays. A committed forward flow facility like this gives equipal a predictable funding line to convert originations into live loans, which can help the company scale originations faster than relying on one-off fundraises.
For SMEs and fleet operators, the headline is practical: equipal can now support higher-value transactions (up to £250,000) with agreements of up to five years. That widens the types of commercial vehicles and equipment the company can finance and could speed replacement and electrification decisions for smaller operators.
Inside the product
Equipal runs a fully digital, integrated platform designed to speed up arranging asset finance, vendor payments and vehicle release. The company says it offers flexible terms to businesses and can complete finance, vendor payment and release of a vehicle in a matter of hours.
Reported product details include a starting rate of 4.5% flat (8.85% APR) and the ability to handle multiple purchases from different dealers through the same digital workflow. The £15m forward flow facility is intended to turn those originated receivables into funded loans at scale, while the £1.25m equity tranche bolsters the firm’s capital base and operating runway.
Who are the investors?
Lead backer Altum Capital Management provided the combined package: £1.25m in equity and a £15m forward flow facility. The arrangement is structured to deliver both growth capital and committed lending capacity, enabling equipal to underwrite larger asset finance agreements and expand its vendor-facing payments capability.
In the announcement, Eamonn McMahon, founder at equipal, said:
The structure of this deal allows for additional scale with senior funding in the years ahead and critically, provides us with operating flexibility.
In the announcement, Eamonn McMahon, founder at equipal, said:
We look forward to scaling up, in partnership with our new shareholders and funders, Altum Capital.
If you're researching potential backers in this space:
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Founder perspective
In the announcement, Eamonn McMahon, founder at equipal, said:
I’m thrilled to get this deal over the line. While the market environment has been challenging, our operating resilience and discipline on credit, while keeping the customer front and centre, has helped us get here.
In the announcement, Eamonn McMahon, founder at equipal, said:
The equipal platform supports business customers with finance that is fast, seamless and integrated, allowing multiple purchases from various dealers in a short time.
Our rates start at 4.5% flat / 8.85% APR and we can execute finance, vendor payment and release of vehicle in just a couple of hours.
The bigger picture
The transaction is part of a broader trend in UK fintech where lenders pair equity with structured lending lines to manage balance-sheet efficiency while continuing to grow originations. For firms focused on vehicles and commercial equipment, committed facilities reduce funding volatility and can accelerate market share gains when underwriting discipline is maintained.
This deal also highlights continued appetite from institutional credit providers to back asset finance platforms that can supply predictable receivables. The outcome will be watched by UK fintech investors as a test of demand for higher-ticket asset finance products for SMEs.
The outcome underlines the practical role fintechs play in the UK lending ecosystem: bridging dealer networks, digital workflows and capital provision to keep business fleets and equipment moving across the country.
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