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Peer2Peer Finance News | May 27, 2019

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New SME funding platform launches

New SME funding platform launches
Tim Evershed

A NEW funding platform is aiming to make it easier for small- and medium-sized (SME) businesses to access loans, equity and grants.

The online platform has been created by Swoop, which is a rebrand of BizFly.

The firm says it holds a database of over 400 lenders and has created its new platform to engage a greater pool of SMEs.

P2P lenders accessible via the platform include Funding Circle, Zopa, Growth Street, RateSetter and MarketInvoice.

“The current platform is very much the first step in our aspirations to create an all-encompassing tool for SMEs to help them in their everyday business lives,” said Swoop in an email.

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“We want SMEs to be able to focus their time on their core business while Swoop earns you time back from traditionally time-consuming tasks. For now, we’ve built a platform to help you find matched funding easily and quickly.”

Swoop says it is aiming to add a number of features to the site in the coming months including Open Banking API integration.

It will also allow your accountant to manage your Swoop profile, so they can find and apply for the best funding solutions.

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And there will be a facility for integrated applications where SMEs will be able to deal directly with loan providers, grants agencies and equity funds in one central space.

“Swoop has been built for SMEs, so that they can easily answer the question ‘Where do I get access to funding?’” the company said.

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