ArchOver joins the ABFA




ArchOver has become a member of the Asset-Based Finance Association (ABFA), the trade body for invoice finance and asset-based lending.

ArchOver has become a member of the Asset-Based Finance Association (ABFA), the trade body for invoice finance and asset-based lending.

This follows last month’s decision by the FCA to grant ArchOver full authorisation to operate as a peer-to-peer (P2P) lending platform.

The ABFA represents over 95% of the UK and Irish asset-based finance market and works to maintain ethical standards within the industry.

ArchOver is now well-placed among other P2P lenders to serve mid-market businesses in need of up to £10m in loans.

The P2P lending platform has had no borrower late payments, no defaults and no losses over the past three years.

“With our FCA approvals still hot off the press, we’re delighted to have been accepted as part of the ABFA,” said Angus Dent, CEO of ArchOver (pictured above).

“We look forward to working with our peers in the sector to build on our successes in the [small business] lending space and provide our lenders with top-flight security.

“As part of the ABFA, we will continue to connect UK businesses with the essential funds they need to grow, and work to maintain our zero per cent default rate for lenders.”

“The ABFA exists to ensure that our members treat clients fairly and embrace the principle of professional conduct in their business,” said Jeff Longhurst, CEO of the ABFA.

“We are very pleased to welcome such an innovative finance provider as ArchOver as one of our first fintech members.”

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