Funding Circle launches new embedded finance solution

• The new capability enables partners to seamlessly offer Funding Circle loans of up to £500,000 to small businesses within their own website
• Powered by Funding Circle’s machine learning and Instant Decision technology, their customers can apply within minutes, receive a decision in seconds and have money in their account within 48 hours
• Funding Options and Capitalise are the first partners to leverage this new capability, with an exciting pipeline of partnerships expected over the next 12 months

Funding Circle, the leading platform for small business loans, has today unveiled an Application Programming Interface (API) that enables partners to natively embed Funding Circle into their website, providing customers with fast and seamless access to business loans. 

Leveraging Funding Circle’s decade of investment in its machine learning and Instant Decision technology, partners can now offer customers a frictionless way to apply for a loan up to £500,000 in minutes, receive a decision in seconds and have money in their account within 48 hours. The embedded finance solution is the latest in a series of new products and capabilities launched by Funding Circle that utilise Instant Decision technology, including FlexiPay, a buy now pay later solution for small businesses. 

Business finance platforms, Funding Options and Capitalise.com, are the first to integrate with the API, expanding their proposition and making it easier than ever to help customers to apply for funding. 

These first integrations provide a blueprint for the exciting pipeline of partnerships expected over the next 12 months and form part of the growing global market for API-driven embedded finance which is predicted to exceed $138bn by 2026.

Lisa Jacobs, CEO Designate of Funding Circle, said:

“We started Funding Circle to deliver easy, fast and flexible funding solutions to small businesses and we are constantly innovating and developing our technology to meet their evolving needs. Our new embedded finance solution enables partners like Funding Options and Capitalise to harness our technology and deliver a seamless way for their customers to access easy, fast and flexible finance.” 

Simon Cureton, CEO of business finance marketplace Funding Options, said: 

“Funding Circle has been one of the most successful innovators in the lending space over the past decade, which makes their integration to our Funding Cloud ecosystem even more exciting. Together we will be able to rapidly facilitate new lending at scale, supporting SMEs as they navigate the post Covid recovery. Our award winning Funding Cloud platform combines the use of technology, innovations such as Open Banking and advanced data analytics, to power real-time digital decisioning, transforming the experience for companies who need fast and reliable funding to grow and thrive. Funding Circle, together with other lenders on the platform, will play an integral role in shaping the SME finance sector for the future, which is a critical element underpinning the stability and growth of the UK economy.”

Ollie Maitland, Co-Founder and Chief Product Officer of Capitalise.com, said: 

“Funding Circle coming on to Capitalise’s Instant Offers platform is a boost for business owners and accountants with fast, instant quotes. This gives them transparency and control over business finance to plan ahead with confidence.”

For more information:

Funding Circle: media enquiries: press@fundingcircle.com; +44 (0) 203 667 2245, partnership enquiries: Fran Warrington, Head of Strategic Partnerships, fran.warrington@fundingcircle.com 07793240346 

Sources

*July 2021 study by Juniper Research ‘Why the Future of Fintech is Embedded Finance’ 

About Funding Circle

Funding Circle is the leading global platform for small business loans. Founded in 2010 and operating in the UK and US, its market-leading and unparalleled Instant Decision Lending technology enables small businesses to apply for finance in an average of six minutes, with lending decisions in just nine seconds. A wide range of investors, including banks, asset management companies, insurance companies, government-backed entities, individuals and funds, are utilising this technology and distribution platform to lend more than £13 billion to approximately 100,000 businesses globally. This is providing small businesses with the fast and simple access to finance they need to grow and power the economy.

About Funding Options 

Funding Options is a leading data-driven marketplace for business finance, helping SMEs get the right funding in place so they can trade, plan and grow with confidence. With over 120 leading lender partners, Funding Options has helped more than 10,000 businesses across the UK and Netherlands secure over £0.5bn in funding. 

In a highly fragmented SME lending ecosystem, Funding Options is fast becoming the de facto marketplace for business finance, connecting businesses, lenders, and partners in a frictionless digital journey. The company is transforming the way SMEs access finance through a combination of award-winning technology which uses data analytics, open banking APIs, and Artificial Intelligence, and a dedicated team of experienced Business Finance Specialists to ensure borrowers can make informed decisions and have access to funding within minutes. 

Recognised as a fast-growth scaleup, Funding Options was named in the top 25% of the FT 1000, the annual list of Europe’s fastest-growing companies and is part of Silicon Valley Comes to the UK’s(SVC2UK) 2020 Scale-Up Club cohort, a prestigious annual list of fast-growth UK technology companies destined for great things.

About Capitalise.com  

Capitalise.com is the trusted platform for over 2,000 accounting firms, advising on over £1 billion of approved capital to their clients.  Headquartered in London, with offices in Portugal and South Africa, Capitalise enables accountants and their clients to raise capital through lending and innovation grants.  Recover capital through debt recovery, dispute resolution and R&D, whilst protecting working capital through credit improvement.  Winner of multiple awards from Microsoft Ventures, Nesta Innovation for Open banking, Innovate UK for machine learning in the accountant industry and many more. https://capitalise.com