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Spotcap Expands Core Direct Lending Business with Lending-as-a-Service

March 19th, 2018 / Blogs, News

Technology platform offers a solution to administer loans effectively

London, United Kingdom – March 19, 2018 – Spotcap, an online lender that provides business loans, and the technology behind it, is giving UK small and medium-sized firms more choice when it comes to financing. The company lends directly to businesses in the UK, and now also offers a select few high-quality financial institutions, an option to use Spotcap’s in-house developed loan processing technology. 

“The British Business Bank recently released figures that only 30 percent of UK businesses are seeking a loan from more than one provider,” said Niels Turfboer, managing director, Spotcap UK. “Many businesses would benefit from having more options and faster responses to their loan requests.”

Spotcap addresses this need in two ways; It lends directly from its own balance sheet and provides business in the UK with credit lines up to £250k. Applicatications are processed within one working day with the user-experience described as “refreshing” and “efficient”.

Spotcap also supports the small and medium-sized business community indirectly through its Lending-as-a-Service (LaaS) proposition. Launched in January, it provides a select few high quality financial institutions with an opportunity to use Spotcap’s in-house developed approach for swift and straightforward loan processing. The offering is being provided on a selective basis in strategic markets.

Niels continues: “Choice isn’t the only thing that matters when it comes to finding the right financing. Education also plays a part in why so many UK businesses only approach one lender. We recently partnered with the Guardian to help raise awareness about the numerous options available.”

Tomorrow, Spotcap and Guardian Labs will launch the content hub ‘Business Breakthroughs,’ which puts UK small and medium-sized businesses in the spotlight. The site was created to meet the demand for stories focusing on the people driving business and the issues they grapple with.

‘Business Breakthroughs’ will be live for the next six months and feature stories from a wide range of industry sectors. The videos and articles will be released throughout the duration of this period and address questions such as:

      Managing legal and accounting costs

      Creating new business lines

      Sourcing capital to meet unexpected needs and quick growth

Spotcap prioritises investing in partnerships with companies and organisations that support the UK small and medium sized business community and will continue to do so moving forward.

Since its launch in the UK in November 2016, Spotcap has supported hundreds of businesses. To learn more visit: www.spotcap.co.uk.

 

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About Spotcap
Spotcap empowers small and medium-sized businesses with tailored finance, allowing them to focus on what really matters. The company has developed a unique lending platform and credit algorithm which offers a fast and superior assessment of a business’ real-time performance. Spotcap operates as a direct lender in the United Kingdom, the Netherlands, Spain, Australia and New Zealand. The company also offers its proprietary technologies under its Lending-as-a-Service proposition in Austria. Spotcap has raised 100 million euros in funding and is backed by a number of high profile investors including Rocket Internet, Finstar Financial Group, Access Industries, Holtzbrinck Ventures and Heartland Bank. The growing team currently consists of more than 120 employees globally.

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