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Funding Options offers lenders access to its SME market data

CEO Simon Cureton says the launch of Funding Cloud: Insights will give small business lenders more granular data on the sectors they operate in.

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Simon Cureton/Funding Options.

Lending marketplace Funding Options is looking to give lenders a competitive edge with exclusive access to its own market data.

Packaged as part of a feature called Funding Cloud: Insights, the company believes this will enable lenders to: “understand their position relative to others, adapt product and pricing, inform commercial decisions, and identify new opportunities.”

Funding Options CEO Simon Cureton explained that lenders often lack visibility on how they perform compared to their peers and are left unsure of how to improve their product.

He added: “we wanted to deliver further market intelligence and granular trend data to our lender partners so they can evolve their lending proposition and make more accurate decisions about products.”

“Ultimately, the platform will empower lenders to understand the scale and demographics of both funded and unfunded businesses in order to make better lending decisions and close the funding gap.”

Insights are just the latest addition to the Funding Cloud platform, which lets lenders embed their loan products directly inside Funding Options leading to easier applications and quicker decisions.

Earlier this year Funding Options launched ‘Connect’ which let accountants and advisors facilitate loan applications on behalf of their SME clients directly on Funding Cloud.

Since becoming CEO in 2019 Cureton has led an aggressive push to diversify Funding Options’ business, branching out into new fields like energy switching and international payments for SMEs.

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