County Durham based Growth Capital Ventures has facilitated a £1.3million investment into Business Finance Market, a fintech platform for SMEs.

Experienced banker and entrepreneur Craig Iley - who has already co-founded two challenger banks in the UK - has established BFM to streamline the lending process through technology innovation to match lenders and SMEs together to help them secure the right finance for their business.

The new technology will allow SMEs to access quicker finance decisions while providing lenders and intermediaries with a fintech platform that will help to manage the end-to-end application process, improve information and increase deal flow in order to deliver faster credit decisions.

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Craig Peterson, co-founder and Chief Operating Officer of Growth Capital Ventures, said: “When we issued this latest investment opportunity in BFM to our investor network, it attracted a considerable amount of interest. Such is the belief in the strong executive team and the aims behind the new technology platform.

“Banking for the SME lending market is notoriously complex, outdated and unsupportive of the needs of the organisations that account for three fifths of employment and 50% of revenue in the private sector."


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