The new peer-to-peer (P2P) platform enables both customers and businesses to raise finance through their family, friends and customer connections.

The partnership will see Equifax supply real-time consumer and commercial data to allow the underwriting process to be automated and optimised.

Equifax will also give a holistic view of SME loan applicants, providing Flender with the tools to make robust and reliable lending decisions.

Andrew Hullock, head of new business at Equifax, said the partnership represented its continued commitment to the alternative lending sector and support for new entrants in the market.

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“It’s a great example of a lender maximising the use of commercial data, an exciting area to watch as the potentially industry changing commercial credit data sharing (CCDS) scheme continues to develop.

“Competition in SME lending needs to improve, and providers like Flender with a new approach are a healthy addition to the market.”

Kris Koik, CEO of Flender, felt the combination of extensive consumer and commercial data that Equifax provided would be vital to allow the lender to meet its targets as it looks to expand into Europe.

“We see Equifax as the primary bureau in the alternative lending sector and they were the clear choice for us.

“We’re the only P2P provider that allows you to lend money while integrating social circles into the process.

“We’re doing things differently and Equifax has a proven track record in working with lenders on flexible solutions at the early stages of their development.