Despite the ever growing number of finance options available, the British Business Bank have reported that “Demand for external finance continues its long-term decline, with just 36% of smaller businesses now using external finance compared to 44% in 2012”.
The above was the lead into my first blog in this short series, where I over-viewed the range of debt options. In this blog post, I am going to look at the ‘new’ breed of brokers using technology to assist them (and us) in accessing and prioritising a wide range of debt finance providers, with a focus on Capitalise.
Capitalise.com provides an online platform, which has access to several different debt finance products – secured & unsecured – and over 100 UK lenders, offering their loans and cash flow solutions to SMEs.
PKF are able to use the platform to offer our clients a wide range of bank and non-bank / alternative finance options and market insight (see further below).
Capitalise themselves raised finance earlier this year and announced that “The recent raise will be used to expand our cloud product for advisers to navigate the ever growing market of financial products for SMEs and to embed funding expertise in their firms with Capitalise Pro, explains Ollie Maitland, Co-founder and Chief Product Officer at Capitalise. Investment in data science will power their award-winning credit and health report for businesses, Capitalise Monitor, which was named in the Nesta Open Banking challenge and further addresses underlying issues causing problematic cash flow for UK small business owners.”
We look forward to hearing more on the developments at Capitalise and what they mean for us and our clients when they tour our offices to update us on in the coming months – they will be presenting at Finance in Cornwall (see further below).
PKF and Capitalise
PKF and Capitalise have a long-standing partnership that has run since 2016 and myself and many other colleagues at PKF Francis Clark have made use of the platform in securing finance for clients.
According to statistics that I have just been provided by my main contact at Capitalise, the 55 funding searches we have started on their platform have yielded the following funded numbers:
- 2018: £2,141,600 across 18 different transactions for 13 different entities.
- Q1 2019: £265,000 across two separate transactions for two different entities.
Finance in events
I anticipate they will also be presenting at my second and the firm’s seventh Finance in the South West event scheduled for October 2019 – more details to follow.
Please contact me or your usual PKF Francis Clark contact to discuss your funding options – and remember from my previous blog, recent research suggests that businesses are four times more likely to be successful in a funding raise where their accountant has been involved in the finance raise…