Digital lending platform for SMEs and scale-up businesses Esme Loans has today announced it has now lent over 拢60m since its inception.
Founded in in early 2017, the milestone represents an increase of over 20 per cent in two months for the London-based business.
The NatWest backed lender has recently experienced a period of strong growth, lending over 拢10m to UK SMEs in the last eight weeks.
The 拢60m of lending is made up of loans to a broad range of sectors, including wholesale retail, administrative, support and manufacturing.
The platform uses existing banking data to show business owners how much they can borrow
鈥淪MEs want to be able to access loans faster, without the hassle of lengthy application forms,鈥� said Richard Kerton, CEO and co-founder of Esme Loans.
鈥淲e鈥檝e listened, and our fully digital offering means UK scale-ups can rapidly access the funding they need to grow and scale. We are proud to enable UK businesses and are ready to lend as we look forward to helping many more in the future.鈥�
The firm recently rebuilt their data warehousing offering in partnership with Microsoft to make better targeted lending decisions and to provide automated service assisted by AI.