365 Finance announces expansion into the Republic of Ireland
Award-winning SME lender 365 Finance has expanded into the Republic of Ireland, supporting the growth of Irish businesses and entering the EU marketplace.
The funder’s international growth strategy is to leverage the company’s highly automated AI-powered lending platform in other markets.
365 Finance has advanced over £500m to UK-based SMEs since inception in 2014, and has used more than a decade’s worth of lending data to build an AI-focused lending platform using Salesforce and AWS architecture. While still forecasting tremendous growth in the UK, this proprietary lending platform will allow the funder to enter new markets efficiently.
The Republic of Ireland represents a natural first new market for 365 Finance, given similar characteristics from a regulatory, legal and commercial perspective.
SMEs in the Republic of Ireland are similarly constrained when it comes to accessing finance from banks, with 365 Finance being confident that its revenue-based product will be well received by small to medium sized businesses seeking working capital finance.
The Republic of Ireland is the ideal springboard into the rest of Europe, and after demonstrating the scalability of 365 Finance’s funding platform in its first Euro market, the lender will be looking to add new EU markets to their roadmap.
365 Finance CEO, Warren Abbey, said, “We are thrilled to announce the expansion of our highly scalable, revenue-based fintech lending platform into the Republic of Ireland. 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. This milestone marks a significant step in our mission to provide innovative and accessible financial solutions that help small businesses thrive.”
Director of Growth at 365 Finance, Nathan Stewart, added, “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.”
Offering €10,000 to €250,000 to SMEs in the Republic of Ireland, with no hidden fees or fixed terms, 365 Finance provides fast and flexible funding which can support businesses during seasonal periods and with their own expansion plans. Automated underwriting technology means funding can be approved in less than 24 hours.