The announcement sees Moneysupermarket Group extending its partnership with Funding Xchange to give small business owners an easy and simple way to compare personalised quotes from more than 40 lenders. By working with Funding Xchange, business owners can compare quickly and easily personalised quotes from alternative funders like Funding Circle, Iwoca and MarketInvoice, as well as high street banks like Barclays and NatWest.
Our partnership with MoneySuperMarket is based on a shared ambition to provide businesses with access to the best finance solutions.
Funding Xchange started working with Moneysupermarket Group in 2017 to give small business owners’ control over their funding journey while saving them time and money. Funding Xchange’s intelligent decisioning platform provides personalised quotes for business finance within three minutes and is able to ensure businesses receive money in their bank account in ten minutes.
Until now it has been difficult for business owners to identify the best deal for them, but by making offers from all providers easily comparable, Funding Xchange is introducing much needed transparency enabling small businesses easily to decide which solutions are right for them.
Funding Xchange’s clever use of technology significantly reduces the costs of matching businesses and lenders. FXE passes this benefit on to the business by guaranteeing that it is “never cheaper to go direct to a lender’. For time poor SMEs, this means they can get the best offers within minutes, rather than spending hours researching online or spending money on fees with brokers.
CEO of Funding Xchange, Katrin Herrling, welcomed the announcement of the next stage of the partnership. “Our partnership with MoneySuperMarket is based on a shared ambition to provide businesses with access to the best finance solutions. Funding Xchange has already transformed the traditional search for business finance by enabling small businesses instantly to review personalised quotes, based on the credit policies of over 40 lenders. It is this technology that led the government to appoint Funding Xchange as one of their chosen Referral Platforms for businesses unsuccessful in requests for funding through their mainstream bank. The partnership with Moneysupermarket Group now goes one stage further, saving the business both time and money, and ensuring they do not need to pay fees to a broker.”
Adrian Mawson, head of commercial (banking) at Moneysupermarket Group, commented: “Over the past two years, we have seen the improvement that Funding Xchange has made to our customers, providing them with an easy and simple way to compare personalised quotes. Not only does it save our customers time, it saves them money which is always our priority, and we’re delighted to extend our partnership.”