Multifi, a tech startup that focuses on SME lending in the UK, has received a capital injection of £10 million from Fasanara Capital, a London-based asset manager and technology platform with assets worth $4 billion. The objective is to provide hassle-free access to credit, specifically in wholesale, manufacturing, and logistics sectors. This funding will aid in the growth of UK enterprises, enabling them to access credit facilities up to £200,000. The financing structure includes a fixed monthly access fee of 0.3% and an interest rate of 1.99% per month on used credit. The company will work closely with a network of introducers and partners to market the product.
According to Matt Kus, head of origination for developed markets at Fasanara, “Fasanara is committed to supporting the UK SMB ecosystem through funding partnerships with lenders like multifi. We are confident that our partnership with multifi will enable them to effectively scale a portfolio for much-needed funding to UK SMBs.” Rob Keown-Boyd, CEO of multifi, states, “We aim to revolutionize this process by simplifying access to finance…our straightforward platform allows businesses to ascertain their borrowing capacity instantly.”
Moreover, Keown-Boyd adds, “With the initial £10m secured, we are eager to support the growth of SMBs across the UK. We are committed to taking the faff out of finance.” The company will also partner with a range of introducers and collaborators to expand the product’s reach, ensuring a practical and supportive financing model for UK SMEs.