Liquid Finance is new lender in the UK that aims to provide funding for small businesses that take card payments, such as those in the hospitality, service or retail sectors. The company is owned by Midsummer Capital, and partners with iCheque, a regulated e-money issuer.

The Liquid Finance funding model is set up in a way that, from the initial application to cash in the bank, the whole process should take less than 10 days, with no security via personal assets. The company also has an automated splitting process, which means that businesses do not have to worry about switching their card provider to be eligible for funds.

Liquid Finance was launched by Richard Morley and Ian Morrison, whose previous venture was co-founding Merchant Cash Express Limited, a future card receivables factoring company in the UK.

Morley, who has worked in senior roles at corporate banks and consultancy firms including Barclays and First Union National Bank, will be responsible for sales and marketing at Liquid Finance. Morrison will be leading international business development for the company, having previously held senior positions at leading banks and investment firms including Barclays & First Union National Bank.

In addition, Kevin Coles also joins the Liquid Finance team as a non-executive director. With 33 years experience at Barclays and nine years at Lloyds Bank, Coles will provide consultancy in regard to all aspects of the credit and debit card industry. Additional board members include Julio Vildosola as CEO, and fellow company co-founders Justin Lunny and Caerwyn Prothero. Lunny is the founder and director of iCheque, while Prothero is CFO of iCheque. 

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