By Daniel Lanyon on Thursday 11 July 2019
Funding Options is currently seeking to take a leadership position in Open Banking, following its expansion in partnership with ING Bank into the Netherlands this year.
Ogden has founded several fintechs including WorldPay, Cashflows and ClearBank the latter being the first new clearing bank in 250 years. He joins current investor directors Aaron Le Cornu, Alan Morgan, and Jan Willem Nieuwenhuize.
Ogden said “Funding Options has already commenced its scale up by developing an exciting copy of its existing UK business in the Netherlands. With the deployment and opportunities around Open Banking in the UK, we intend to deliver substantial new choice of services to many UK businesses, many of whom are still to understand the changes and choice that is being made available to them.”
“Every business consumes financial services and they are now actively encouraged to shop around for the best possible deal. Having already delivered around £250m in business funding in its start-up phase, our mission is to ensure that all businesses understand and take advantage of financial service choice. Open Banking doesn’t mean that bank branches will stay open longer but it guarantees that businesses will have easy and immediate access to a wide range of funding options.”
Funding Options has secured funding of over £250m to thousands of UK businesses. In June it won a £5m grant from Pool D of the Banking Competition Remedies’ Capability and Innovation Fund which will be matched by further investment.