Growth Lending partners Currencycloud for automated payments

Growth Lending has partnered Currencycloud for API-enabled automated payments.

Growth Lending, a B2B alternative finance provider will use Currencycloud’s integrated API to process payments more efficiently, including the ability to instruct cash allocation every 15 minutes.

Growth Lending said the partnership would also enable it to offer more support to SMEs and
mid-market firms trading overseas by providing them with access to competitive FX rates as well as more currencies.

Commenting on the tie up, Growth Lending’s portfolio and business operations director Faye McDonough said: “We are always looking for ways to offer UK SMEs access to
exceptional products as they scale. Currencycloud was the only provider that
had all the features we needed to do this.

She added:“The firm’s API improves our processing speed, enabling us to provide SMEs with more rapid access to funds when they need them. Our clients can get more from their overseas trade too, because we can offer them Currencycloud’s market-leading FX rates.”

The Currencycloud API has been incorporated into Growth Lending’s platform and is available to existing and new customers from today.

Nick Cheetham, chief revenue officer at Currencycloud said: “Our goal at Currencycloud is to reimagine the way money flows around the world. The partnership with Growth
Lending does just that by helping SMEs expand with seamless access to working
capital, and the funds for growth and research & development when they need
it. We look forward to working with Growth Lending as the business expands into
the US market.”

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