The investment is part equity and part loan, and an extra £15m has been contributed by existing investors Gael de Boissard and Henry Ritchotte – former executives at Credit Suisse and Deutsche Bank.
Founded in 2014, Neyber has now raised a total of £150m through investment, and was valued at £79.4m pre-money in its previous round in August. Other previous investors include Police Mutual and Wadhawan Global Capital (WGC), neither of which is a frequent investor in UK companies (though WGC did invest £32m in Zopa earlier this year).
Goldman Sachs, too, invests only occasionally in UK firms. Its last announced foray into the market was in August of 2016, when it contributed £200k to I Am The Agent, a proptech firm. Both I Am The Agent and Neyber are staffed by former Goldman employees. This is the largest amount the bank has ever invested in a UK company, beating its 2011 contribution to AppSense by almost £72m.
Neyber’s current clients include the UK police force, doubtless a contributing factor in the investment of Police Mutual, as well as the NHS.