MarketFinance raises GBP 100 mln from Deutsche Bank

Thursday 19 May 2022 13:57 CET | News

UK-based fintech credit and payment company MarketFinance has received GBP 100 million from Deutsche Bank to support new lending to UK SMEs.

The announcement comes at a time when results from the Federation of Small Businesses (FSB)’s quarterly Small Business Index (SBI) show that lending to UK businesses has hit an all-time low with fewer than one in ten (9%) small firms applying for finance in Q1 of 2022, the lowest proportion since SBI records began, as per the press release.

MarketFinance also announced that it is expanding its lending capacity to include underserved SMEs, such as the UK’s 3.2 million sole traders and partnerships, offering competitive rates and terms, while continuing to serve limited companies and LLPs. With credit decisioning and payouts in the market, UK SME borrowers will be able to access between GBP 10,000 and GBP 500,000 within 24 hours of applying to aid their growth plans.

MarketFinance operates a proprietary fintech platform which makes access to competitive business loans and working capital frictionless for UK SMEs. The business recently announced it reached profitability in 2021. This was driven by the business demand for working capital over the pandemic, product development to offer embedded finance with key business-to-business platform partners, and its role as a delivery partner for the British Business Bank lending schemes, CBILS, and RLS.

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Keywords: lending, funding, SMEs, fintech, SBI Payments
Categories: Payments & Commerce
Companies: Deutsche Bank, MarketFinance
Countries: United Kingdom
This article is part of category

Payments & Commerce

Deutsche Bank



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