A new platform making use of behavioral analytics to objectively match loan profiles with appropriate products from more than 50 lenders launched at FinovateEurope this week.
Capitalise allows small businesses to compare products from traditional, independent and alternative lenders. It answers the pain points of having to first be aware of the many different products then actually seeking them out.
The Capitalise algorithm employs behavioral analytics to track and rank lender suitability against unique borrower need, only producing matches making sense for both sides, executives claim.
Also announced was an agreement with global accountancy network PKF where accountants can compare and suggest appropriate financing products to their clients.
The development of alternative lending is only the first step, Capitalise co-founder and Managing Director Paul Surtees said.
“The rise in alternative lenders is beginning to ease the significant constriction in small business lending but there is a lot more to do. Many SMEs only contact the largest banks when seeking finance with the vast majority only approaching a single lender. Capitalise creates greater opportunities for independent, alternative and traditional lenders to reach small businesses with lending solutions that will fuel growth and ultimately, economic benefit.”
The ability to advise on appropriate lending options is a service a growing number of finance professionals are looking to provide. Capitalise simplifies that process, PKF consultant Chris Clay said.
“We are increasingly focused on delivering strategic services to our substantial SME client base in the UK. Before we worked with Capitalise, it was challenging to keep up to date with changes to lenders, products and pricing. Capitalise enables us to quickly and easily source the most suitable lending solutions for our clients, helping them to improve cash flow, fuel growth and better forecast their business activities.”
Capitalise was founded by Mr. Surtees, a former Goldman Sachs Executive Director, and Byng Managing Director Ollie Maitland. Byng is a software engineering consultancy.