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Deliveroo, Graphcore and other big UK startups say they’re being cut out of COVID-19 lending relief

Deliveroo, Graphcore and other big UK startups say they’re being cut out of COVID-19 lending relief

4 years ago
Anonymous $9CO2RSACsf

https://techcrunch.com/2020/04/08/deliveroo-graphcore-and-other-big-uk-startups-say-theyre-being-cut-out-of-covid-19-lending-relief/

The UK government, like a number of other countries around the world such as the US, has stepped up its pace in providing relief in the form of loans for businesses being impacted by the coronavirus health crisis and the related shutdown that we’ve seen across the economy and life as we knew it. But startups in the UK are increasingly getting worried that they are being left behind.

An open letter to the Chancellor published today and signed by the UK’s biggest “scale-ups” — later-stage, highly valued, but still venture-backed (and often loss-making) startups such as Deliveroo, Benevolent AI, Citymapper, Graphcore and Bulb — urged the UK government to make room to provide lending options to companies like theirs.