FinTechs Collaborate to Support ‘Neglected’ Businesses
(25 May 2020 – United Kingdom) Starling bank has partnered with Funding Circle, the United Kingdom’s (UK’s) largest small business finance platform, to provide £300 million of working capital financing to small businesses.
Amid the COVID-19 pandemic, funding has become an instrumental tool in keeping businesses afloat during this crisis. Starling and Funding Circle together have agreed to finance more than 4,000 businesses across the UK – a clear demonstration of the importance of FinTechs in today’s business banking community.
“The partnership with Funding Circle provides us with another outlet, on top of our own CBILS and BBLS lending, to help meet the needs of business owners affected by coronavirus. It’s a great example of the FinTech industry pulling together to meet a very urgent need” said Starling Bank CEO Anne Boden,
“This partnership will help to ensure the UK’s vital small business community has the financial firepower required to not only survive this period, but to go on and thrive” stated UK Managing Director at Funding Circle, Lisa Jacobs.