iwoca is teaming up with business account provider Countingup to make business finance available to almost 10,000 of Countingup’s users at the touch of a button. The partnership builds on Countingup’s suite of built-in finance, accounting and tax management features. This new collaboration uses iwoca’s API to embed fast and flexible funding options into Countingup’s business account platform. This now means users can access finance seamlessly within minutes.
The integration will see iwoca’s Flexi-Loan for SMEs made available on the app. It uses Countingup’s data and interface to streamline the loan application process. The aim is to empower small businesses to take better control of their finances.
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Loan decisions in under an hour
Initial data collected during a trial of the partnership found that 70% of Countingup’s first cohort of customers applying for finance with iwoca received a loan decision in under an hour.
Harry Cranfield, iwoca Partner Channel Manager said: “Through our industry-leading API integrations for business lending, we’ve enabled over 30 partners to provide finance within their platforms. As we continue to innovate, we’re actively looking for new partners to expand our reach and make finance available to small businesses when and where they need it.
“Our latest collaboration with Countingup brings us another step closer to that reality. Access to fast and flexible finance not only enhances cash flow management for SMEs. It also fuels their ability to seize opportunities – making their business and the economy stronger as a whole.”
Rory Bocock, Head of Marketing at Countingup added: “Our collaboration with iwoca represents a big step forward in our mission to automate and simplify finances for the UKs self-employed. The seamless integration of iwoca’s flexible business loans within our app complements our finance, accounting and tax features. It empowers self-employed individuals to confidently run their business. We’re ensuring small business owners have continuous access to the vital financial resources they need to thrive.”
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