Funding Circle has launched a new embedded finance solution which enables third party firms to offer loans of up to £500,000 for small businesses.
The API solution is powered by the company’s machine learning and instant decision technology.
The move follows the launch of the peer-to-peer lender's Buy Now, Pay Later (BNPL) service in September, which also utilises the company's instant decision tech. The service enables SMEs to spread UK invoices and supplier payments over three months and also utilises the company’s instant decision tech.
Business finance platforms, Funding Options, and Capitalise.com, are the first to integrate with the new solution.
“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,” said Lisa Jacobs, chief executive designate of Funding Circle. “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.”
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