Online funding platform launched

An online business finance platform has been launched by a Leeds-based accountancy and business advisory firm.

The Business Finance Finder platform has been introduced by WGN, supported by Finpoint – a technology provider connecting lenders with businesses. Established in the UK in 2014, Finpoint has connected thousands of SMEs with lenders, with over £286m of loan applications processed to date.

The firm said the Yorkshire platform was designed to help businesses to navigate a complex funding market and find the right lender for their circumstances.

WGN added that the platform also allowed businesses to prepare one funding application to be shared with an audience of over 120 lenders, including banks, specialist finance houses and alternative finance providers.

Colin Glass, senior partner at WGN, said they were pleased to be chosen as the first Yorkshire-based accountancy firm to introduce the Finpoint on-line platform.

“We have been assisting businesses with this process for many years and we believe Finpoint is a good starting point for businesses to find what is on offer. Of course, this should be followed up by a personal discussion between the business owners and their advisors,” added Glass.

Rainer Plentl, Finpoint CEO, said: “Finpoint is a proven platform which we have adapted to the specific needs of UK SMEs seeking funding. The platform allows SMEs to be in control of the process of finding finance and gives them access to alternative lenders, including crowdfunding platforms, and existing funders such as banks, challenger banks and alternative finance providers that operate in specific niches of the lending market.”

WGN added’: “The Business Finance Finder provides a new route to market for businesses seeking funding to grow. It complements the access to finance service already available through WGN by adding intelligent matching technology to the mix, with an emphasis on ease of use and transparency.

“WGN hopes to stimulate and support business growth across the region by removing barriers to accessing finance and to enable a comparison of finance offerings.”