Fintechs Ebury and MarketFinance, have announced that they have joined forces to offer both CBILS loans and revolving credit facilities to UK SMEs to support them with their business finance needs.
The immediate focus of the partnership is to offer lending products under CBILS terms to Ebury clients, the fintechs intend to work together in the long term with Ebury continuing to offer MarketFinance’s regular business loans and invoice finance to their clients, well beyond the end of the CBILS window. The strategic partnership adds to Ebury’s range of cross-border finance options, which are underpinned by its leading foreign exchange risk management capabilities.
Juan Lobato, Ebury CEO said “We have been working with governments throughout Europe to try to ensure that SMEs, the lifeblood of our economies, have access to the working capital they need to survive the pandemic. I am delighted that by combining with one of our fintech peers we will be able to help more companies in the UK secure the vital funding they need to be able to benefit from the economic recovery we are starting to see.“
Anil Stocker, CEO at MarketFinance, said “A key part of our strategy is partnering with other fintechs to deliver seamless funding solutions for their customer base. We are very excited to be launching this with Ebury, who have built up a strong brand internationally and who want to improve access to finance for their business customers in this crucial time. We hope this partnership will make it even easier for business owners to find the right finance to help them through this global pandemic.”