Funding Circle partners with Sage

Friday 24 February 2023 10:24 CET | News

UK-based lending platform Funding Circle has announced its partnership with Sage to streamline financing for small and mid-sized businesses.

Through this collaboration, SMBs will have the possibility to secure funding in a simple, secure, and effective way. 

Companies will also be allowed to use the integration of Sage Accounting and Funding Circle’s API, which will enable them to apply for loans and manage their cash flow more quickly. This happens when clients leverage a loan application processing service, while the sum of money will range from GBP 10,000 to GBP 500,000. After the loan procedure is done, businesses have the option to repay it in a period of six months, up to a period of six years. 

Furthermore, traders and businesses will also have access to Funding Circle’s new product, FlexiPay. This tool represents an interest-free line of credit designed to improve the way SMEs manage their cash flow. 

In addition to those products, Sage and Funding Circle aim to expand internationally, including the US, as the next step of their collaboration.  

UK-based lending platform Funding Circle has announced its partnership with Sage to streamline financing for small and mid-sized businesses.


Sage’s products and partnerships

UK-based financial company and payroll technology provider Sage offers its clients multiple services and solutions, covering multiple areas such as finance, HR, and payroll software. Its technology was designed to digitalise business processes and to improve the relationship companies have with their customers, employees, banks, government, as well as suppliers. The digital network provided by Sage connects small and mid-sized businesses while removing friction, and delivering insights in real-time. Sage also focuses on leveraging these tools while having in mind digital inequality, climate crisis, as well as economic inequality. 

The company announced its partnership with BigCommerce in December of 2022. The deal was made to offer merchants an end-to-end commerce solution. 

Through this collaboration, the open Software-as-a-Service (SaaS) ecommerce platform aimed to unlock new opportunities for B2C and B2B merchants by having their online storefronts integrated and included in their back-office. Following the BigCommerce integration in the Sage 100 ERP software, companies were able to modernise their ecommerce presence while launching fully included business-to-customer and business-to-business storefolds to reach new clients, have an increase when it comes to operational efficiency and offer real-time updated and visibility regarding payments and customer information and invoices. 

Another partnership announced in the same month was with Square, a US-based payments platform, which focused on helping small businesses take more control over their finances.

The deal enabled Square’s point of sale (POS) software to integrate with Sage Accounting, thus enabling customers to use both products to do business while taking payments online, in person, and over the phone. 

This also provided up-to-date visibility of an organisation’s position and allows for seamless updates of customer’s books as all sales and transactions were processed via Square POS and reconciled automatically in Sage Accounting daily. 

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Keywords: partnership, funding, financial services, SMEs, online banking, digital banking
Categories: Banking & Fintech
Companies: Funding Circle, Sage
Countries: United Kingdom
This article is part of category

Banking & Fintech

Funding Circle



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