RateSetter and SyndicateRoom simplify access to finance for SMEs
Two of the UK’s leading alternative finance disruptors have today announced that they are joining forces. As a result of the agreement, small to medium sized enterprises (SMEs) based in the UK will find it easier to access both equity and lending finance.
Marketplace lender RateSetter and equity crowdfunding platform SyndicateRoom will work together to ensure that growing companies have access to the most appropriate type of finance for their needs. This means that those SMEs that are looking to scale-up, invest for growth or improve their productivity can now access both debt-based and equity-based finance simultaneously, through either platform.
The agreement, which is the first collaboration between a marketplace lender and an equity crowdfunder in the UK, reflects the shared desire of RateSetter and SyndicateRoom to support the growth of SMEs by making it as simple as possible to access suitable finance solutions.
RateSetter CEO, Rhydian Lewis, commented: “The success of small and medium sized businesses is vital to the UK economy. Businesses need funds to raise productivity, grow and create jobs, yet traditional finance providers have retreated from this sector leaving customers high and dry. By collaborating to bring together our complementary propositions, RateSetter and SyndicateRoom can better help businesses obtain the right type of finance for their specific needs and circumstances in a timely manner.”
SyndicateRoom CEO, Gonçalo de Vasconcelos, said: “SMEs have so much to offer Britain. They provide the kind of innovation that can transform our society for the better, which means that their growth is vital to the UK. We’re proud to have come together with RateSetter, to find a way of supporting that growth.”