Pollen Street backs Elect Capital with new credit facility for UK SME lending
What's the deal? Pollen Street CapitalDealroom has a profile for this one. Try Dealroom → has completed a senior secured credit facility with Elect CapitalDealroom has a profile for this one. Try Dealroom →, a UK-based short-term SME fintech platform.
Alongside the deal, Pollen Street upsized and extended its existing facility with MCL Finance, run by the same team as Elect.
Elect has serviced short-term loans to UK small businesses since 2025, offering products of up to £1,000,000 through a team of more than 60 people.
Why now? Pollen Street first backed MCL Finance in December 2025 and is deepening that relationship with a two-year term extension.
MCL, established in 2018 and based in London, has serviced well over £150M across thousands of UK businesses, with repayment periods of up to 24 months.
Elect's offering is designed to complement MCL's, giving small businesses a broader range of short-term capital.
"Ethan and the team at Pollen were a clear choice for us," said Dovi David, chief executive officer and founder of Elect Capital. "Their knowledge of the market and their appetite to deploy capital meant they stood out as the right partner."
The signal: By backing both Elect Capital and MCL Finance — two platforms run by the same team — Pollen Street is doubling down on the underbanked UK SME lending market, where short-term products of up to £1,000,000 target the same-day, performance-based funding that traditional banks are slow to offer. For an early-stage lender like Elect, a senior secured facility from an established investment fund provides the balance-sheet firepower to scale in a space its founder expects to grow over the next five to 10 years.
Read more: Pollen Street Group
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