Shawbrook acquires fintech lending company Playter

Shawbrook Group has acquired fintech lending proposition Imployapp, which operates arsenic Playter, for an undisclosed sum.

Playter provides short-term cashflow loans and recognition lines to tiny and medium-sized enterprises (SMEs) successful the UK.

The company’s level is based connected proprietary exertion and delivers recognition decisions done automated workflows that process information into usable information.

It includes ‘Ari’, an AI broker hub that streamlines the process for commercialized concern brokers, enabling them to reappraisal their clients’ recognition lasting and taxable applications.

Since 2021, Playter has enabled much than £100m of lending to SMEs successful the UK.

The funds person been utilised for a scope of purposes, including VAT payments, and moving superior to concern expansion, recruitment and unit training.

Playter CEO and laminitis Jamie Beaumont said: "Playter was created to springiness SMEs and brokers a clearer, faster and much close way to funding. Our proprietary AI level has demonstrated that exertion tin materially amended however businesses entree concern and however brokers enactment their clients.

“Combining Playter’s exertion with Shawbrook’s marketplace reach, capabilities and backing resources, we are exceptionally good placed to broaden entree to fast, flexible concern for UK SMEs successful this important conception of the market."

Following this acquisition, Playter’s squad and exertion volition beryllium integrated into Shawbrook’s existing integer capabilities, backing advantages and organisation network.

Shawbrook commercialized main banking serviceman Neil Rudge said: “SMEs inactive crook to their advisers and brokers to find the backing they request to put successful growth, ratio and productivity.

“Playter has built a information led level that helps brokers bash precisely that, simply. Combining its talented team, proven proposition and innovative exertion with Shawbrook’s existing offering is an breathtaking opportunity, allowing america to further physique connected our beingness successful this ample and increasing conception of the market.”

In September, Shawbrook announced the acquisition of ThinCats Group, which provides backing solutions for growth-oriented SMEs.

"Shawbrook acquires fintech lending institution Playter" was primitively created and published by Leasing Life, a GlobalData owned brand.

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