This partnership will enable accountants to receive instant quotes on funding applications for their clients. Accountants can benefit from being able to offer their clients exceptional customer service, with instant quotations and eligibility on suitable financial products whilst lenders benefit from getting high credit quality businesses onboard more quickly.
SME leaders are more and more often turning to accountants for financial advice and help selecting products. Using Open Banking APIs, Capitalise.com gives businesses the chance to compare thousands of lending products, through an adviser.
Using data from Sage Business Cloud and QuickBooks, Capitalise.com is instantly able to assess the financial health of a company and matches it with the lenders who are most likely to consider an application for capital.
Colin Goldstein, iwoca’s Commercial Growth Director said: “We strongly believe in the benefits of a connected and cooperative marketplace and have a proven track-record of helping accountants access finance for their clients. We’re trusted by accountants and delighted to work with Capitalise so that we can help make access to finance even more seamless for the market they serve.
“Our tech-led approach over the years has meant we were the first small business lender to launch a lending API which allows Fintech partners such as Capitalise to neatly embed our services into their own products. Our vision is to fund small businesses when, where and how they need it – this partnership will help us fulfil that.”
Ollie Maitland, Co-founder and Chief Product Officer, Capitalise.com, added: “Consumer finance providers have long been able to offer products instantly to customers but the technology to do the same for businesses has lagged behind.
“Instant Offers is the first step towards creating a universal API that will enable lenders to do so and, launching today with iwoca and a high street bank, means that advisers can receive real-time quotes for clients, enabling great service.