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American Express announces new partnership with digital lender ezbob

October 15, 2018, London

Global payment services, American Express has announced today a new partnership. Offering online financing innovation, AMEX has partnered with ezbob, the best in its class, to offer small-to medium-sized UK businesses fast, secure and competitive access to finance.

Through this partnership, eligible American Express business clients, will receive a referral to apply for up to £300,000 in finance. ezbob offers competitive, fixed annual interest rate from 3% per year. American Express customers taking out a loan with ezbob will also benefit from a 40,000 Membership Reward points offer*.

With its streamlined, fully automated lending proposition for financial institutions, fintech ezbob is one of the most advanced business lending platforms available in the UK. The platform will enable eligible American Express small to mid-sized UK based business customers to access quick, reliable and paper-free credit from ezbob. Using the online loan calculator, companies seeking fast access to finance can apply for a loan in ten minutes – and, if successful – receive funds on the same day.

Commenting on the partnership, Carlos Carriedo, Senior Vice President of Global Commercial Services at American Express, said: “We know agility is crucial for smaller businesses to help retain a competitive advantage but accessing the finance needed to react swiftly to changing customer demands, or seize an opportunity, can be a challenge. Building on the existing support we offer businesses to help them manage payments across the entirety of their supply chains, we’ve teamed up with ezbob to explore offering our customers low cost access to new capital, which can help keep their business moving.”

He continued: "We’re committed to helping UK businesses to ensure they can capture growth opportunities – whether that’s investing in headcount, optimising seasonality, refurbing premises or simply funding a large order."

American Express and Oxford Economics recently conducted a global study of senior executives of 3,000 SMEs**, which revealed that while UK SMEs remain confident, a significant number (24%) struggle to access finance to help grow and support their business. The research highlighted that hidden fees, a lack of flexible repayment options and lengthy application processes are among the greatest challenges for small businesses looking to access finance or capital.

Tomer Guriel, founder and CEO, of ezbob said: "We are very excited about the opportunities our partnership with American Express represents for our respective firms. Their decision to partner with us to offer their UK customers a new way to access short-term finance reflects ezbob’s advanced functionality and the rapid implementation capabilities of the platform delivered through a fully managed support model. Providing streamlined access to financing for SMEs was a founding principle for developing the ezbob platform".

* This offer only available to successful applicants until 30 November 2018.

* In October and November 2017, Oxford Economics surveyed senior executives at 3,000 SMEs, ranging in size from 10 to 250 employees across 12 countries and 16 industries, to inform the American Express SME Pulse 2018: Strategies for Sustainable Growth report. The findings quoted are specific to the UK.



For more information, please contact:
amexteam@firstlightpr.com
+44 20 3434 3846

American Express contact: Samina Ansari


About American Express Global Commercial Services

Through our Global Commercial Services division, American Express offers powerful backing and support that helps companies of all sizes gain financial savings, control and efficiency. We provide a suite of payment and lending products, solutions for travel and everyday business spending, cross border payments, global currency solutions, and business financing.

To learn more about products and services for small businesses and entrepreneurs visit American Express Business Cards


About American Express

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/ americanexpress, and youtube.com/americanexpress.


About ezbob

Ezbob has received the recognition of both banks and international institutions for its pioneering technology. The company was founded in 2011 with a mission to build a team of industry practitioners and technology experts dedicated to transforming the way SMEs access financing.

Since its launch, the company has provided funding to thousands of businesses across the UK. It has built the most advanced business lending platform available in the market today, a platform which has been used by the company itself as a critical component of its lending business

Ezbob has won awards and has been chosen to showcase its technology at leading financial technology events such as Finovate Europe, Money2020 and efma.

Ezbob has 60 employees from 11 countries, with offices in London, Tel Aviv and Sophia.

Ezbob is authorised and regulated by the Financial Conduct Authority.

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New NatWest platform offers quick and easy loans to SMEs

Feb 16, 2017

NatWest launches a new digital platform to speed up the lending process for SMEs. Borne out of an ‘Innovation Cell’, working with Fintech - Ezbob Limited – Esme has been developed in response to the emergence of innovative direct and P2P lending platforms, and aims to simplify and speed up the lending process.

Alison Rose, CEO Commercial and Private Banking at NatWest said: ‘We are excited to launch the trial of Esme this week offering SMEs yet more choice in how they access the funding they need to invest and grow.

Ezbob hires Marc Philippo as VP Sales & Marketing to lead global expansion

Jul 20, 2018

Business growth fuelled by recent equity investment ezbob platform is revolutionising SME and Consumer lending capabilities

ezbob, the leading SME and Consumer lending provider hires industry veteran Marc Philippo to drive business growth. ezbob has developed an innovative, ‘Lending as a Service’ platform which is already supporting Esme Loans and Clydesdale Yorkshire Bank. Marc brings over 20 years’ experience to the firm having led highly successful sales and marketing teams within some of the world’s premier financial technology businesses.Marc has extensive sales experience across EMEA and has carved a reputation for establishing strong sales and delivery teams. Most recently he was head of Corporate, Retail Banking and Merchant Services for Northern Europe at Finastra. Prior to this he formed the global mid-tier solutions group at payments provider Dovetail. Before this, Marc was Sales Director at Temenos where he also established the global Inside Sales team.

Tomer Guriel, founder and CEO of ezbob said, “It gives me great pleasure to welcome Marc to the rapidly expanding ezbob team. His sales leadership experience and in-depth knowledge of the global financial services sector are exactly what we need and will enable us to exploit the many new business opportunities that are coming our way. Marc’s joining, together with the recent equity investment, and the appointment of Lindsey McMurray to the ezbob board, means we are in the best position to make our vision of a one-stop-solution for financial institutions that offer lending capabilities to their customers a reality.""Marc continued, “I am extremely excited to be joining ezbob at this stage of its growth trajectory. Our lending platform is proven and already in use by two major players. Ezbob is revolutionising the way SMEs can apply for finance, turning what was once an onerous and frustrating process into a 7 minute yes/no decision. This means that SMEs can now very quickly access much needed business finance to underpin their growth ambitions. ezbob is positively disrupting the lending sector that continues to struggle with the limitations of legacy and siloed systems. It is a true pleasure to be part of a dynamic company at the forefront of new wave technology.""

About ezbobThe ezbob proven 'Lending as a Service' (LaaS) platform, designed for banks and other financial institutions, is revolutionising the business of lending. Validated lending decisions can now be achieved in minutes, followed by almost immediate funds transfer into an applicant’s bank account. This unique approach dramatically reduces operating costs, improves efficiency and productivity and transforms the entire customer engagement experience. Clients include Esme Loans and Clydesdale Yorkshire Bank. The firm is a privately-owned UK based business with offices in London, Tel Aviv and Bulgaria, employing some 70 people.

Ezbob

Marc Philippo | Vice President, Sales and Marketing |marc.philippo@ezbob.com| +44 (0)203 769 3128

Media contacts

Clare Walsh | clare@adessotech.co.uk |+44 (0) 7768 770757

Hannah Pewter | hannah@adessotech.co.uk | +44 (0) 7500905415

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ezbob secures equity investment from Honeycomb Investment Trust

Jun 26, 2018

Lindsey McMurray, founding partner of Pollen Street Capital joins the Board

Investment to fuel global expansion plans

Tuesday 19th June 2018, London. ezbob is pleased to announce Honeycomb’s investment in its Round C fundraising and the appointment of Lindsey McMurray to the Board of Directors. Lindsey brings many years of experience in the UK’s financial services sector and is the founding partner of Pollen Street Capital. Pollen Street Capital is the manager of P2P Global Investment PLC as well as the Honeycomb Investment Trust, making it one of Europe’s largest investment managers in the specialist lending arena.

ezbob is leading the field in delivering a highly innovative ‘Lending as a Service’ platform, which is already in use at Esme Loans and Clydesdale Yorkshire Bank. The investment will accelerate the firm’s ability to create a ‘one-stop’ automated lending platform portfolio and achieve its ambitious expansion plans into new geographical regions.

Tomer Guriel, founder and CEO of ezbob stated, “We are delighted Honeycomb has invested in the business and are very excited about the wealth of new opportunities this represents for the firm. On behalf of the team, I would like to welcome Lindsey into the ezbob family. Her involvement is a huge vote of confidence in our technology, management and future strategic plans. Our initial focus is on the SME community, many of whom struggle to acquire the financial support they need to achieve their personal and professional business development goals. My vision is to create a portfolio of innovative solutions which streamline and accelerate the entire lending process for both the borrowers and loan providers. With the support of highly experienced individuals like Lindsey, together with the new funding, there is nothing to stop us from turning our shared vision into a sustainable reality.”

Lindsey McMurray said: “SMEs are a vital part of our economy and deserve a better, faster customer experience than the one they have typically received from the lenders, many of whom are constrained by legacy systems and lengthy decision-making processes. We have watched ezbob develop from being a niche player into a leading lending platform provider and I am looking forward to working with the team and helping to take the firm to the next level. ezbob are pioneers in this space and I believe both the financial institutions and the businesses they support will derive significant benefits from this new and innovative approach to lending.”

emAbout Honeycomb

Honeycomb Investment Trust (LON: HONY) The Company’s investment objective is to provide shareholders with an attractive level of dividend income and capital growth through the acquisition of loans made to consumers and small businesses as well as other counter parties. It also takes equity stakes where appropriate. The Company may also invest in equity stakes in selected equity investments that are aligned with the Company’s strategy and that present opportunities to enhance the Company’s returns from its investments.

emAbout Pollen Street Capital

Pollen Street is a private equity and credit manager focused on financial and business services, which brings together a team of highly seasoned specialists with extensive experience in the UK, US and Europe. Pollen Street works closely with entrepreneurial management teams who share our values and whose businesses have strong growth potential. Changes in the focus of large incumbent players, together with the implementation of new models that make the best use of data, analytics and technology, provide exciting opportunities for our partners to pioneer and innovate. Pollen Street has a long track record of supporting these successful models as they expand and grow.

About ezbob

The ezbob proven ‘Lending as a Service’ (LaaS) platform, designed for banks and other financial institutions, is revolutionising the business of lending. Validated lending decisions can now be achieved in minutes, followed by almost immediate funds transfer into an applicant’s bank account. This unique approach dramatically reduces operating costs, improves efficiency and productivity and transforms the entire customer engagement experience. Clients include Esme Loans and Clydesdale Yorkshire Bank. The firm is a privately-owned UK based business with offices in London, Tel Aviv and Bulgaria, employing some 70 people.

Ezbob

Marc Philippo | Vice President, Sales and Marketing | marc.philippo@ezbob.com | +44 (0)203 769 3128

Clare Walsh | clare@adessotech.co.uk|+44 (0) 7768 770757

Hannah Pewter | hannah@adessotech.co.uk| +44 (0) 7500905415

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As Blockchain Finds A Foothold Traditional Fintech Plants The Flag

Feb 11, 2018

A PWC survey of the financial services sector and fintech has showed that almost 77% of financial services industry plan on adopting blockchain in some way by 2020. Banks, especially, have indicated an interest in the technology, with nearly one third of surveyed institutions noting that they are at least in the initial stages of developing strategies to integrate blockchain into their operations.

The technology does offer several solutions that can greatly aid an industry that has been historically mired in the shadows.

The result is the rise of companies like the UK’s EZBob. The company, which recently earned accolades for technological innovation at the Financial Innovation Awards in London, raised another £15 million and reached a total of £103.5 million in investments to date.

EZBob’s platform focuses on Straight Through Processing (STP), an initiative that financial companies use to optimize the speed at which they process transactions, in lending.

The firm has helped several banks to expedite their platforms. Moreover, it offers the largest banks the ability to compete with smaller, leaner lenders on their own terms while offering a more secure, accurate, and reliable evaluation and fraud prevention system.

Others have tackled different arenas, from payment processing - companies such as PayPal and Stripe, which have eased online transactions - to wealth management, where young start-ups such as Addepar are creating better investment platforms.

Despite the promise blockchain holds, the fintech industry continues to find new ways to solve existing problems on its own, providing better accessibility to more people in the process of its own evolution.

The industry may find great uses for blockchain, but should not consider it a pillar so much as a powerful and complementary asset.

Why ezbob Has Focused On Technology Over Lending

Jun 14, 2017

UK-based ezbob is now one of the leaders of the growing LaaS (lending as a service) market. It wasn’t always like that, as the company, which was started in 2011, operated as an online lender and completed over 10,000 loans to SME with over £130 million of credit extended from its own balance sheet.

The company signed a deal with RBS/NatWest in Q3 of 2016<

Ezbob’s advantage is its technology. For the bank’s customers, his/her customer experience is about to get a whole lot better. Our technology makes banks’ customer journeys enjoyable. We are seeing Net Promoters Scores of our bank customers go through the roof.

Collaboration Is The Way Forward For Banks And Fintech

Apr 7, 2017

Much has been said and written about the impending doom of banking, as customers begin to flock over to Fintech products and services. However, the claim that Fintech will kill banking is still an overstatement. Banking, as we know it, is changing because of Fintech, but it would take a major event of cataclysmic proportions to do away with banking institutions.

That said, the disruption of the financial services industry is real. Until very recently, banks had an uninterrupted monopoly over banking, financial, commercial, loans and investments. Not anymore. Gone are the days when people are comfortable dealing with just a single entity for all their financial needs. People simply aren’t happy with how their banks treat them and have become increasingly receptive to new solutions.

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To Comply And Compete, Community Banks Need Fintech

Jan 11, 2018

The Federal Reserve is set for new leadership this year as FOMC member and future chair Jerome Powell waits for Janet Yellen to serve out her remaining days following a relatively smooth confirmation hearing. In that hearing and the days preceding it, Powell indicated the likelihood that the Reserve’s post-financial crisis policies would continue in a similar manner. However, a new agenda is likely to get pushed to the forefront as Powell is expected to push for some rollback in regulations. In fact, one of the issues discussed in the hearing was Powell’s support for easing regulatory requirements for regional and community banks.

This is a welcome development to small banks. The financial crisis prompted lawmakers to create more stringent regulations designed to protect consumers and promote stability. The downside, however, is the increased regulatory burden for banks. Banking continues to be a very competitive industry and banks are still feeling the pressure, even if it has been nearly a decade since the height of the financial crisis. More than 800 physical U.S. bank branches closed in the first six months of 2017 alone.

The result is the rise of companies like the UK’s EZBob. The company, which recently earned accolades for technological innovation at the Financial Innovation Awards in London, raised another £15 million and reached a total of £103.5 million in investments to date.

EZBob’s platform focuses on Straight Through Processing (STP), an initiative that financial companies use to optimize the speed at which they process transactions, in lending.

The firm has helped several banks to expedite their platforms. Moreover, it offers the largest banks the ability to compete with smaller, leaner lenders on their own terms while offering a more secure, accurate, and reliable evaluation and fraud prevention system.Others have tackled different arenas, from payment processing - companies such as PayPal and Stripe, which have eased online transactions - to wealth management, where young start-ups

such as Addepar are creating better investment platforms.Despite the promise blockchain holds, the fintech industry continues to find new ways to solve existing problems on its own, providing better accessibility to more people in the process of its own evolution.The industry may find great uses for blockchain, but should not consider it a pillar so much as a powerful and complementary asset.

Others have tackled different arenas, from payment processing - companies such as PayPal and Stripe, which have eased online transactions - to wealth management, where young start-ups such as Addepar are creating better investment platforms.

Despite the promise blockchain holds, the fintech industry continues to find new ways to solve existing problems on its own, providing better accessibility to more people in the process of its own evolution.

The industry may find great uses for blockchain, but should not consider it a pillar so much as a powerful and complementary asset.

Why ezbob Has Focused On Technology Over Lending

Jun 14, 2017

UK-based ezbob is now one of the leaders of the growing LaaS (lending as a service) market. It wasn’t always like that, as the company, which was started in 2011, operated as an online lender and completed over 10,000 loans to SME with over £130 million of credit extended from its own balance sheet.

Ezbob’s advantage is its technology. For the bank’s customers, his/her customer experience is about to get a whole lot better. Our technology makes banks’ customer journeys enjoyable. We are seeing Net Promoters Scores of our bank customers go through the roof.

Collaboration Is The Way Forward For Banks And Fintech

April 7, 2017

Much has been said and written about the impending doom of banking, as customers begin to flock over to Fintech products and services. However, the claim that Fintech will kill banking is still an overstatement. Banking, as we know it, is changing because of Fintech, but it would take a major event of cataclysmic proportions to do away with banking institutions.

That said, the disruption of the financial services industry is real. Until very recently, banks had an uninterrupted monopoly over banking, financial, commercial, loans and investments. Not anymore. Gone are the days when people are comfortable dealing with just a single entity for all their financial needs. People simply aren’t happy with how their banks treat them and have become increasingly receptive to new solutions.

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Fintech Innovations in Europe Prove the Merit of Regulation

Dec 15, 2017

Many of the modern notions of finance that we hold today have their origin in Europe.

The concept of banknotes was born in 17th century London, where goldsmiths could take these precious lumps of metal from clients and store them safely. In exchange, the merchant would obtain a notarized receipt indicating the identity of the smith, and the quality and the quantity of gold kept. Though the gold was an immobile asset, both the merchant and the smith could use their agreement to benefit. Methods of sending and recording transactional information, verifying their authenticity, and trading assets evolved, and the same city grew to be a financial powerhouse in the following centuries. The rest of the continent was no exception. High Fliers in Fintech

Fintech companies generally make use of technology to improve financial services. The laws that once allowed the crisis to occur also prohibited this technology from finding applications in finance, but this is no longer true. The status quo is now everyone’s to share. People have seen stellar advancements in entertainment, healthcare, and transportation thanks to technological progress, and now the fintech sector is eager to show them what kind of impact it can have on finance. Consider the notion of getting a loan, and what it used to entail.

Twenty years ago, a loan was something almost exclusively obtained through a bank or another institutional lender, and if you needed it, you were in for an arduous and laborious process. After you filled out a long application, gathered and submitted scores of documents to prove your identity, creditworthiness, and the existence of other collateral assets, you still had to wait for the bank to verify this information with other institutions. All in all, lucky (and overqualified) borrowers were likely to see their money within a month, alongside a strict repayment schedule. Fintech companies like Ezbob have changed the notion for the better. This company entered a young fintech industry in the throes of the crisis and has capitalized on laws that require institutions to share customer and financial data. Borrowers who need a fast, fair loan for their business can access financing within a single day because the algorithms and other data technology behind Ezbob’s platform make the traditional process both autonomous and accurate.

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EU SMBs Can Benefit from Smart Financial Regulation

Nov 27, 2017

zbob is one such company that has flourished since the introduction of new finance laws to European markets. The company uses their cutting-edge data technology to find fast, efficient loans for businesses. PSD2 is crucial for companies like ezbob, which were once unable to access the same sources of financial information that big banks kept within their walls. “Working with the banks is no easy task. I can tell you that we were trying for 4 or 5 years to partner with banks and luckily enough we decided to lend money ourselves using our platform. The company wouldn’t have been able to survive if we sat around waiting for a contract with a bank,” said Tomer Guriel, ezbob’s CEO. Now, this fintech leader is able to aggregate this flood of new data to optimize their lending processes for all participants. Loans through its platform take days as opposed to weeks or months and are much more affordable, thanks to the overhead that the company saves by employing algorithms and automation instead of paper bureaucracy.

Apart from streamlining the process, these new regulatory directives have also opened new funding channels to borrowers when it comes to sourcing the financing for SMBs. The explosion of peer-to-peer (P2P) lending models like Funding Circle are helping connect investors tired of the prevailing low-interest rate environment perpetuated by central banks to capitalize on higher rates of return available from lending. The advent of more automated underwriting processes helps evaluate creditworthiness in minutes instead of weeks, helping investors determine applicable avenues for their capital while opening SMBs to a wider audience of possible lenders. At the end of the day, both parties win while the P2P network profits by connecting parties without risking its own capital.
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Hate Banks? Fund Your Company With Blockchain and ‘Laas’ Technology

Oct 15, 2017

For several industries that are labeled together under the “finance” umbrella, the landscape is quickly changing. It might not seem like the status quo is moving very quickly, but considering the molasses-like pace of progress in centuries past, the finance sector is practically sprinting. The last ten years are largely responsible for this trend, and there are several reasons why the period was so transformative. Regardless, the small revolution happening in global finance has had a welcome influence on many business processes. One of the hardest hit is how a company raises capital. (See also: Bank Stocks’ Big Surge Turns Into a Tailspin) Setting the Scene The first catalyst for today’s changed banking sector is almost exclusively the financial crisis of 2008. In a world where banks had clearly overextended themselves only to lay the cost of their mistake on the public, things had to change. Countries like the United States and those in the European Union established laws for greater transparency of information, forcing banks who had once operated in the dark, keeping track of their operations with mountains of paper files, to open the books.

The Revolution Manifest

One of the first areas where the revolution manifested itself was in lending. Before, a business would meet with a banker in person, hand over the veritable box of documents they had collected, and then wait weeks to hear if they’d been approved. With fintech companies given the go-ahead to digitize the slew of new information now at their fingertips, the loan approval process suddenly became a whole lot easier.

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The Rise of the Fintechpreneur, and Why It Matters

Oct 6, 2017

The financial technology field is rapidly expanding, but remains in flux and continues to be unpredictable. Fintech’s use of AI, algorithms, and modern technologies can transform traditional banking, but still faces some resistance. Some fintech companies are finding billion-dollar markets in the gaps left by outmoded banking services. Nevertheless, there are still many obstacles in the road before a complementary system is created that takes room for them both. Should Banks be Scared? Banks are slow to come around to innovation, but with a little effort they can remain more competitive than ever. Newer digital standards and transparency laws even the playing field, and the institutions quicker embrace of new technology can position themselves better for success. Not all fintech startups are out to hurt banks, and in fact, many services use legacy platforms to bring them more customers.

One such example is ezbob, a new platform that has partnered with multiple leading banks, including the Royal Bank of Scotland. Ezbob’s platform sorts through data from over 25 sources in real time to create a seamless, automatic lending process for banks’ customers. The platform is not the first to streamline an old process using new tech, but it seems to be positioned to lead the Lending-as-a-Service (LaaS) industry. Tomer Guriel, ezbob’s CEO, believes that LaaS is the future as bank need not be the only lender in town. “Working with the banks is no easy task. I can tell you that we were trying for 4 or 5 years to partner with banks and luckily enough we decided to lend money ourselves using our platform. The company wouldn’t have been able to survive if we sat around waiting for a contract with a bank.” LaaS is one of the many ways that banking has been transformed very recently, and should show banks that all partners can benefit when efficiency is improved. Making real time decisions can cut overhead and help bankers to focus on the big picture while technology runs the show. In terms of LaaS specifically, some new startups are looking to use their peers’ modern lending services to enter the space without sacrificing equity to investors.

Swimming Against the Current

New fintech startups must be wary. Even as they aim to disrupt existing industries, new firms must be wary of regulations. Companies still need to be compliant with advertising, reporting, and product rules or risk potentially catastrophic fines and sanctions. Traditionally, the regulatory system has little to no patience for those who skirt the rules. Thus, it is vital to build transparency and methods for ensuring that the data is infallible. Startups that consider these compliance issues from the outset have a big advantage in a fast-changing ecosystem.

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5 Fintech Trends SMBs Need to Embrace or Risk Falling Behind

Sep 12, 2017

Though smaller businesses have a lot of disadvantages compared to large enterprises, they can gain an advantage with these five innovative fintech trends.

Small and midsize businesses face unique challenges that many of their larger brethren can readily overcome.Enterprise-level companies benefit from innumerable resources and deep pockets, while small companies must constantly discover solutions that help them maintain a competitive edge with lower overheads. As such, it is unsurprising that many financial technology, or fintech, innovations are rapidly adopted by startups and other small businesses long before acquiring mainstream recognition.Even so, finding the right fintech solutions requires a blend of reading tea leaves and understanding broader technological trends. To stay competitive, small businesses must keep their ear to the ground and uncover solutions that will improve their services, optimize their processes, and keep them lean enough to generate profits. These five trends are set to change the game, and SMBs would be wise to embrace them, or run the risk of being left in the dust of more tech-forward competitors.

1. Better transaction and payment processingOne of the big focuses of fintech has been in the payment processing arena.Whereas traditional credit card processors and PayPal were once the exclusive channels for companies seeking to handle digital payments, new entrants are quickly challenging their more established peers in the industry. Companies such as Stripe and Payoneerhave thrown their hats into the ring, offering lower fees, fully digital solutions and more efficient processing times.While many consumers still use credit cards, offering alternative payments that remove this middleman can result in better prices for end users. Additionally, it can open up SMBs to a broader audience that may not have access to traditional payment methods, or those that prefer to work entirely through digital payments and e-wallets. More people are shopping online than ever before, with digital purchases across a wide swath of industries expanding rapidly. By adopting these payment solutions early, companies can position themselves for long-term success.

2. Alternative sources of fundingAs recently as a decade ago, most startups and small businesses had few options for raising capital outside of brick-and-mortar institutions. They could offer up part of their companies to venture capital firms or angel investors, or they could find an institutional lender for a complicated loan process. Recent fintech developments have added a faster, less complicated solution. The rise of lending as a service (LaaS) allows small business owners without the creditworthiness or financials to qualify for a traditional business loan to access new financing options.LaaS platform ezbob, which offers perks such as instant approval and same-day funding, provides companies with an instant source of cash flow to finance their expansionary needs. Moreover, with a transparent process and reduced overheads, ezbob and its peers can offer more competitive rates and terms. While applying for loans is never risk-free, these new lenders give SMBs an alternative borrowing option. Apart from the advantage of having access to precious capital needed to thrive and grow, these choices empower owners to retain complete control of their companies.at consider these compliance issues from the outset have a big advantage in a fast-changing ecosystem.

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Tech Is Changing The Game For Small Banks – Q&amp;A With Tomer Guriel, CEO of Ezbob

May 11, 2017

UK-based fintech company Ezbob is finding success in their collaborations with traditional lenders. Ezbob provides an automated lending platform for use by financial institutions.

The platform provides borrowers a quick and easy interface to complete their application and the lenders powerful features such as know-your-customer (KYC), anti-fraud, analytics, reports and collections.

Recently, Ezbob partnered with the Royal Bank of Scotland (RBS) to enhance the bank’s direct lending capabilities. Instead of attempting to develop such as system themselves, small banks can also opt to emulate such business moves and partner with fintech companies to offer new tech-driven products and services.

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Online lending platform EZBob raises $28 million in Series C funding

March 12, 2016

Online lending platform EZBob Ltd has raised £20m (about $28.3 million) in Series C funding in a round led by Leumi Partners and Oaktree Capital Management.

According to statement, the company will use the new funds to increase its lending capacity and continue to develop its technology platform.

Tomer Guriel, CEO and co-founder of EZBob, said: “Raising investment from a leading global bank in digitalisation and an active investor within tech is proof of our game-changing technology and unique approach to business lending. This latest investment will further accelerate our growth plans and enable us to continue to develop our proprietary business lending platform to address more of the UK’s business lending needs.

“Oaktree’s additional investment is an endorsement of the management team, the business’ scalability and the appetite for a fresh approach to business finance in the UK.”

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Online lender Ezbob boosted after £30m fundraising

Apr 28, 2015

Ezbob has raised money from fund manager Oaktree, in a sign that non-bank lending is becoming more mainstream

British internet lender Ezbob, which recently bought former Wonga business-lending arm Everline, has raised £30m from fund manager Oaktree, as alternative lending becomes more mainstream.

The £30m will be used to refinance existing debt and to increase its loan offerings to small businesses.

This major investment follows the announcement of ezbob’s pioneering partnership with Alibaba.com, as well as their loan guarantee agreement with the European Investment Fund with a value of £40 million.

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EU supports over EUR 50m for businesses in the UK following EIF and Orange Money (Ezbob) agreement

March 19, 2015

The European Investment Fund (EIF) and Orange Money Ltd (trading as Ezbob) have signed the first loan guarantee agreement in the UK under the EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME).

This is the first agreement with an online SME lender under COSME and will allow Orange Money (Ezbob) to substantially increase their loan volumes to SMEs by supporting a new portfolio of loans worth up to GBP 40m (EUR 56m) over the next two years. Over 3,000 companies are expected to benefit from this EU support.

First Progress Microfinance agreement with internet lender Ezbob and the EIF

Feb 10, 2014

The European Investment Fund (EIF) and EZBOB today signed a guarantee agreement aimed at supporting over 1,000 micro-enterprises in the UK. This agreement with the first internet microfinance lender under Progress Microfinance will allow EZBOB to provide enhanced access to finance to micro-entrepreneurs, in particular to young entrepreneurs in the UK, many of whom face difficulties in accessing credit from traditional banking sources. Progress Microfinance guarantees are funded by the European Commission and managed by the European Investment Fund.

Commenting on the transaction, Head of the Microfinance team, Per-Erik Eriksson said: “We are pleased to be signing the first internet microfinance contract under Progress Microfinance with EZBOB in the UK. I am convinced that this innovative financing platform will help to benefit micro-enterprises and contribute to the economic growth across the country”.

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Alibaba enlists startups to provide UK trade financing

March 11, 2015

SAN FRANCISCO (Reuters) - Alibaba Group Holding Ltd has enlisted two UK startups to provide financing for small British businesses looking to buy from Chinese suppliers, aiming to help cash-strapped firms access the world’s largest economy.The partnerships with iwoca Ltd and ezbob announced by Alibaba on Wednesday are a first for the Chinese company in Europe, and are intended to provide short-term working capital to businesses that otherwise would have trouble securing funds from banks.