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Peer2Peer Finance News | August 18, 2019

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P2P lenders feature heavily in list of Growth Finance finalists

P2P lenders feature heavily in list of Growth Finance finalists
Suzie Neuwirth

PEER-TO-PEER lenders have been selected as finalists in a number of categories at the first-ever Growth Finance Awards, which celebrate the finance providers supporting growing businesses in the UK.

The awards launched this year to acknowledge the companies providing “more than finance” to small- and medium-sized enterprises (SMEs).

These lenders provided £79.7bn in funding to growing businesses last year, helping them to expand, boost productivity and create new jobs.

Read more: ‘Disruptive’ P2P lenders set to take a third of SME lending market

The ‘best P2P business lender’ award will be presented to the P2P lender providing a growth finance product or service that has delivered a clear and demonstrable business impact to SMEs over the past 12 months. The platform will demonstrate a best-in-class digital platform, transparency, as well as ample resources for both borrowers and lenders.

The seven finalists are: LendingCrowd, Blend Network, Kuflink, Formax Credit, Assetz Capital, CrowdProperty and Crowd2Fund.

Blend Network is also a finalist for the ‘specialist lender of the year’ award, while LendingCrowd is also one of the contenders for ‘digital lender of the year’ and ‘business growth enabler’.

Both ArchOver and Kuflink are finalists for the ‘innovative product of the year’ award, while ArchOver is also in the running for ‘growth finance provider of the year’ and ‘direct lending platform of the year’.

Read more: Bank of England backs data platform to boost SME financing

Crowd bonds platform Crowd for Angels has been named as a finalist for the ‘best use of technology’ award.

The winners will be announced at a black-tie dinner hosted by Claudia Winkleman for 400 guests on Wednesday 11 September at the Royal Lancaster Hotel, London.

“We launched the Growth Finance Awards in order to recognise the champions of small business finance. We’re celebrating 50 companies who are playing a vital role in the UK’s start-up and scale-up up ecosystem, championing and providing finance so that companies can realise their growth ambitions and reach their full potential,” says Guy Tolhurst, managing director of Intelligent Partnership, the company behind the awards.

Read more: SMEs finding it harder to access finance

“I look forward to shining a much-needed spotlight on all of these providers on 11 September at the Royal Lancaster Hotel. To reach the finalist stage among such a stand-out set of entrants is a huge achievement.”

The finalists will now go on to a second round of judging by a panel of 28 independent and expert judges drawn from across the industry. The full list of categories can be viewed here.

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