An API allows partners to natively integrate Funding Circle into their websites, giving customers access to business loans of up to half a million pounds.
Image source: Lisa Jacobs/Funding Circle
Funding Circle has launched a new integrated finance solution to offer its SMEs loans of up to £500,000 through third-party platforms.
Embedded finance has been one of the biggest trends in fintech over the past 18 months, with a number of companies pivoting to offer their services to third parties.
The integrated finance market could grow 10-fold by 2025 to reach £164 billion in revenue from around £16 billion in 2020, according to a recent report by Lightyear Capital.
Funding Options and Capitalise.com are the first partners in the new product, which works via an API directly integrated into their websites. Funding Circle says it also has a strong pipeline of companies expected to launch over the next year.
Funding Circle says its significant investment in machine learning and instant decision technology over the past few years will allow clients to apply in minutes, receive a decision in seconds, and have money in their account. within 24 hours.
“We launched Funding Circle to provide simple, fast and flexible financing solutions for small businesses and we are constantly innovating and developing our technology to meet their ever-changing needs. Our new integrated financing solution allows partners such as Funding Options and Capitalize to leverage our technology and provide their clients with a seamless way to access easy, fast and flexible funding,” said Funding Circle CEO Designate Lisa Jacobs.
Funding Circle, which was founded in 2010 and operates in the UK and the US. It was one of the first peer-to-peer lenders in the UK to offer small business loans. The fintech lender has pivoted in recent years to increasingly institutional capital and particularly during the pandemic by providing state-guaranteed loans to SMEs.
