Technology start-ups and small to medium enterprises have found it increasingly difficult to secure financing in the wake of the funding squeeze that followed the 2008 credit crisis.

But the tech sector has sought out new forms of financing in a bid to avoid having to go to the banks.

In a televised interview with IBTimes UK, Silicon Valley veteran Philip Letts said that there were a number of alternative ways in which an SME or start-up could acquire cash.

Letts has run a string of high-profile web ventures operating across the US and Europe, including an established Silicon Valley venture, overseeing the creation of one of the world's first fledgling forms of internet currencies, beenz.com.

Now, Letts concentrates on bridging upstart or incumbent businesses through a commerce platform called BlurGroup.com, which is set to change the way businesses buy and sell services on an online global services exchange.

For the full video interview, check out IBTimes TV or the video at the top right-hand side of this page.