Salica Investments has provided Benivo with $6 million of venture debt as part of a $7 million growth financing package. Salica led the financing alongside other partners.
The money will supply dedicated working capital to expand Benivo's Relocation Services funding capabilities. Benivo advances approved relocation funds and manages payments to employees and service providers on behalf of enterprise clients, and said the extra capacity will allow it to support larger relocation programmes and higher transaction volumes without diverting operating capital from its technology platform, AI capabilities and customer service.
Benivo, a London-based mobility technology and relocation services company led by Founder and Chief Executive Nitzan Yudan, combines mobility technology, relocation services, compliance and reporting on one platform and said it delivers relocation services in more than 100 countries.
Yudan said growing relocation programmes create working capital needs because funds often have to reach employees and service providers before clients settle invoices. He said the facility gives Benivo capacity to support larger programmes and higher transaction volumes while continuing to invest in its platform and service quality.
The financing follows a record revenue year. Benivo said revenue has grown nearly tenfold over five years from new enterprise customers and expansion of existing accounts. It said it has held a customer net promoter score above 50 for five consecutive years and reached EBITDA profitability in 2026.
In September 2022 Benivo raised $12 million in a growth equity round led by Updata Partners. The company said it would use that capital to grow teams in the US, the UK, Armenia and India, and Braden Snyder, a Partner at Updata, joined the Benivo board.
Ross Goodwin, Partner, Venture Debt at Salica, said venture debt is well suited to supporting the company's growth without unnecessary shareholder dilution. He said Salica had been impressed by Yudan, the wider management team and Benivo's enterprise customer base. Goodwin said on LinkedIn that Updata Partners introduced Salica to the opportunity.
Salica is a London multi-strategy private markets firm that invests across equity and debt. Its growth debt strategy provides non-dilutive senior debt to high-growth software, advanced manufacturing and IP-rich businesses.
On 1 October 2025 Salica announced a first close of Growth Debt Fund II at £150 million. The British Business Bank and West Yorkshire Pension Fund each committed £30 million as repeat anchors. David Hayers, Head of Growth Debt at Salica, said the team's track record includes deploying more than £500 million. The fund provides senior secured loans to high-growth UK companies in software, IP-rich hardware and advanced manufacturing.