- GLI Finance has agreed to partner Verus360, a Bibby Line Group company.

GLI will support Verus360 with a £5m loan facility which has conversion rights, which are expected to provide the potential for a stake of approximately 14% in the business in the longer term.

The investment, which is expected to be completed through both GLI and GLI Alternative Finance plc, will enable Verus360 to execute the next stage of its strategy.

Verus360 is a start-up business delivering a flexible, customer controlled revolving finance facility for SME businesses via an innovative online solution.

The initial focus of Verus360 is to support businesses with annual revenue of between £200,000 and £8 million by offering facilities up to £250,000.

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