SME leaders are increasingly turning to accountants for advice on financial products. Using Open Banking APIs, Capitalise.com allows businesses to compare thousands of lending products, via an adviser.
Recently, the London-based company raised £10 million from various investors including, Experian, QED Investors, Gauss Ventures, Hambro Perks, and Post Finance, participated.
The funding will be used to support the launch of Capital Reports, a new, integrated risk management service that takes up where traditional credit reports leave off.
How does Capital Report work?
The Capital Reports service allows accountants to protect their SME clients from unforeseen risks of their clients’ and suppliers’ credit positions by warning of potential default.
It further analyses what is available to a business and its propensity or need to borrow, and provides real-time access to a curated panel of mainstream and alternative providers.