GROWTH Street is joining Starling Bank’s marketplace, enabling customers to access its flagship finance product through the mobile-only bank.
The peer-to-peer business lender will be the first small- and medium-sized enterprise finance provider to go live on Starling’s marketplace, which gives users access to a range of services including pensions and insurance.
Growth Street’s existing and new borrowers will be able to access its flagship product, GrowthLine, through the Starling interface. They will be able to access real-time information on their facility limits and available funds.
The GrowthLine credit facility works similarly to an overdraft, meaning that business customers can draw down funds and make repayments as often as they like, up to their limit.
The Starling partnership, which will go live later this year, is Growth Street’s first marketplace integration and will be the first live use of its third-party API.
“I’m thrilled that we will be going live on Starling’s Business Marketplace,” said Greg Carter (pictured), chief executive of Growth Street. “We want to make business finance easier and faster than ever before, and giving users access to crucial information in real time is a great step towards that goal.
“Growth Street shares a vision with Starling: we both want to help businesses grow and prosper. Having the chance to make that happen together is very exciting.”
Anne Boden, Starling Bank’s chief executive, highlighted that small businesses can find it hard to access capital when they need it.
“Through our partnership with Growth Street we will be helping Starling’s business account holders unlock new sources of flexible capital,” she added. “This partnership will bring added value to customers of both Starling for Business and Growth Street.”