Santander’s invoice and expenses app, Asto, has partnered with alternative UK lender, Funding Options, to offer business capital loans to early-stage start-ups and small and medium-sized enterprises (SMEs).
Funding Option’s CEO, Simon Cureton, calls Asto “one of a new breed of ambitious and innovative lenders laser-focused on providing truly flexible finance solutions for businesses”.
Key takeaway:
Partnering with e-commerce giants would give lending company a better access to financial strength of the sellers on these platforms.
The above fintech venture broke into lending last year when it partnered with eBay to off loans to the 200,000 UK SMEs which sell their products through the ecommerce giant’s platform.
The app connects to eBay’s data to measure sales and cash flow to identify prospective customers and shape its credit decisioning process.
Read on
Santander's Asto offers loans to SMEs on Funding Options - FinTech Futures
Asto, Santander's fintech app, has partnered with alternative UK lender Funding Options to offer business capital loans to early-stage start-ups and SMEs.
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