365 Finance expands into Ireland
Business lender 365 Finance has expanded into Ireland to help deliver funding to the country’s small- and medium-sized enterprises (SMEs).
This also marks the lender’s first foray in the EU marketplace. The expansion is part of the company’s international growth strategy, which aims to leverage 365 Finance’s artificial intelligence (AI) powered lending platform in other markets.
In Ireland, SMEs will be able to apply for loans of between €10,000 (£8,328) to €250,000 of revenue-based finance.
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Since its inception in 2014, 365 Finance has advanced more than £500m to UK-based SMEs. It has also used more than a decade’s worth of lending data to build an AI-focused lending platform using Salesforce and AWS architecture.
“We are thrilled to announce the expansion of our highly scalable, revenue-based fintech lending platform into the Republic of Ireland,” said 365 Finance’s chief executive Warren Abbey.
“Designed specifically for small businesses, our lending product offers unparalleled flexibility, allowing borrowers to repay based on their revenue, making it a perfect fit for businesses of all sizes and stages.
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“This milestone marks a significant step in our mission to provide innovative and accessible financial solutions that help small businesses thrive.”
365 Finance has identified Ireland as a natural first new market with similar characteristics to the UK from a regulatory, legal and commercial perspective. The firm is now looking at other EU markets as it prepares for future growth.
“With a strong commitment to customer-centric service and cutting-edge technology, we look forward to making a positive impact on the Irish market and driving financial inclusion for small businesses across the country,” added Nathan Stewart, 365 Finance’s director of growth.
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