Online financial matchmaking service for small businesses launches in the UK

Finpoint aims to connect business owners with financial institutions willing to lend

Germany-based online financial matchmaking service Finpoint has launched its services in the UK.

The web platform is designed to connect businesses seeking funding, with the financial institutions willing to lend.

Founded in 2010, the firm’s German service has 155 major lenders on board and over 2,000 registered small and medium-sized businesses.

Aimed at saving small firms time and paperwork, Finpoint passes on borrowers’ finance requirements in a standardised form to the lenders and products best suited to them.

The package, which is available to small business owners for £499 plus VAT, enables users to post their requirement onto the platform anonymously, before inviting the chosen lender to commit to a confidentiality agreement.

The service, which has delivered €155m in loans to businesses in Germany since 2010, offers to help with a variety of financial arrangements, including factoring and invoice discounting, overdrafts and secured and unsecured loans.

Nigel Maine, European head of marketing for Finpoint, commented: “This is the service that cash-starved businesses in the UK have been waiting for, and one which is set to bridge the SME financing gap that has existed for far too long.”

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