Commercial finance platform FundingSearch launches to lenders

The platform, designed to provide matches between SME borrowers and commercial brokers and lenders, has been invited to participate in the Financial Conduct Authority's SME Finance TechSprint tomorrow (12th February).

FundingSearch has now opened its lender onboarding process to banks and alternative finance providers to support them with matching and processing commercial finance deals.

Phillip Evans, founder and CEO of FundingSearch (pictured above), spent decades as a commercial finance broker before founding FundingSearch.

"I built the platform I wish existed when I started broking," he said.

"The technology gap between mortgage broking and commercial finance is shocking. We're closing that gap."

The platform aims to reduce lender due diligence time by 60% through verified financial data integration with Xero and Sage accounting software.

FundingSearch said its matching system addresses a critical industry inefficiency, claiming that brokers currently spend more than 20 hours per deal manually researching suitable lenders.

Using AI-powered algorithms to reduce this time, the platform analyses verified financial data against lender criteria.

Lenders joining the platform receive pre-qualified applications with live P&L, balance sheet and cash flow data pulled directly from accounting software. This eliminates manual document chase and reduces mismatched applications by up to 50%.

The platform covers the full commercial finance spectrum, including asset finance, invoice finance, working capital, trade finance, merchant cash advance and property finance.

FundingSearch said the invitation to the TechSprint is a reflection of its “alignment with the FCA's Open Finance vision and its innovative approach to addressing inefficiencies in the commercial finance market”.

The platform will demonstrate its verified financial data integration and intelligent matching capabilities at the regulatory event.

"This invitation validates everything we've built," said Phillip.

"We're not waiting for 2030 to implement Open Finance principles. We're delivering them now. The FCA's recognition comes at the perfect moment as we welcome lenders onto the platform."

Following UK market establishment, FundingSearch plans expansion into Ireland, Australia and Canada.