A new online platform that matches small businesses with funding deals has launched in the UK.
Fundbird claims to search non-bank funding options to match businesses with finance, including secured loans, unsecured loans, asset-based finance, invoice finance, peer-to-peer lending and start-up loans. Applicants fill in a form to be matched with deals from alternative lenders including Crowdcube, Funding Circle and MarketInvoice. Lenders are vetted using criteria including competitive interest rates, flexible payment terms and customer support.
Its founders claim that the site has helped secure funding for 1,000 small and medium enterprises (SMEs) since a soft launch earlier in the year.
Sharon Argov, CEO and co-founder, said: 'Small businesses are essential to our economies. Our mission is to bridge the gap between alternative finance providers and SMEs.'
Co-founder Noa Wolfson, added: 'Access to finance and financial efficiency are some of the biggest challenges facing small businesses today. SMEs need to be able to reap the benefits of the FinTech revolution. Having worked at a start-up myself, I have seen that the banks can’t solve all the financial woes of small businesses, and we are determined to empower small businesses to make the right financial decisions at every stage of their growth and expansion.'