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The B2B alternative finance provider Growth Lending has partnered with Currencycloud, the experts simplifying business in a multi-currency world. Clients will enjoy rapid access to funds, greater flexibility and access to leading FX solutions.
The partnership enables Growth Lending to automate its payments through Currencycloud’s API, enabling them to efficiently process millions of pounds in payments every day. With the API integrated into the lender’s system, Growth Lending can instruct cash allocation every 15 minutes. In addition to these efficiencies, Growth Lending can offer more support to SMEs and mid-market firms trading overseas by providing them with access to competitive FX rates as well as more currencies.
Growth Lending’s Portfolio and Business Operations Director Faye McDonough says of the partnership: “We are always looking for ways to offer UK SMEs access to exceptional products as they scale. Currencycloud was the only provider that had all the features we needed to do this. The firm’s API improves our processing speed, enabling us to provide SMEs with more rapid access to funds when they need them. Our clients can get more from their overseas trade too, because we can offer them Currencycloud’s market-leading FX rates.”
Nick Cheetham, Chief Revenue Officer at Currencycloud commented: “Our goal at Currencycloud is to reimagine the way money flows around the world. The partnership with Growth Lending does just that by helping SMEs expand with seamless access to working capital, and the funds for growth and research & development when they need it. We look forward to working with Growth Lending as the business expands into the US market.”
The Currencycloud API has been incorporated into Growth Lending’s platform and is available to existing and new customers today.
ABOUT GROWTH LENDING
Growth Lending provides funding for growth, working capital and M&A. Founded in 2013 to support UK SMEs where traditional banks cannot, the firm works with innovative and fast growth B2B businesses, including those in technology, media and healthcare. Growth Lending had a record 2021; providing £64m under the government CBILS initiative, supporting businesses through the pandemic and aims to double in size by the end of 2022.
Banks, Fintechs and businesses everywhere can make bigger, better, bolder leaps with Currencycloud, a Visa solution. Currencycloud gives businesses the capability to move money across borders, and transact globally in multiple currencies, fast. Experts at what they do, their technology makes it easy for clients to embrace digital wallets, and to embed finance into the core of their business – no matter what industry they’re in.
Since 2012, Currencycloud has processed more than $100bn to over 180 countries, working with banks, financial institutions and Fintechs around the world, including Starling Bank, Revolut, Penta and Lunar. Based in London with offices in New York, Amsterdam, Cardiff, and Singapore, Currencycloud works with partners including Dwolla, GPS and Mambu to deliver simple, clear cross-border infrastructure solutions for clients. They are regulated in the UK, Canada, US and the EU and were acquired by Visa in December 2021.