Funding Circle Enters API-Driven Embedded Finance
(2 December 2021 – Global) Funding Circle has moved into the embedded finance market, providing third party firms with a single API to offer loans of up to £500,000 to small businesses within their own website.
Funding Options and Capitalise.com are the first partners to leverage the capability, which enables customers to apply within minutes, receive a decision in seconds and have money in their account within 24 hours.
The solution forms part of the growing global market for API-driven embedded finance which is predicted to exceed $138bn by 2026
Lisa Jacobs, CEO Designate of Funding Circle, says: “We started Funding Circle to deliver easy, fast and flexible funding solutions to small businesses and we are constantly innovating and developing our technology to meet their evolving needs. Our new embedded finance solution enables partners like Funding Options and Capitalise to harness our technology and deliver a seamless way for their customers to access easy, fast and flexible finance.”
Jacobs says the firm has a strong pipeline of partners ready to sign up over the next twelve months.
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