Online financial broker enters Scotland with senior hires

Online financial broker enters Scotland with senior hires

UK online finance broker is expanding coverage by recruiting two senior executives to set up in Scotland.

Sunday February 28, 2021, 7:00 a.m.

The firm said companies would be able to find financing from more of 130 lenders with a single online request. Photo: AP Photo / Marcio Jose Sanchez

Finpoint, which helps businesses find finance from the UK’s largest range of lenders, said its presence north of the border would “increase competition” and offer businesses alternative financing options instead of just seeking support from their bank.

The company, which offers an FCA-regulated service, said companies would be able to find financing from more over 130 lenders with a single online request, with businesses receiving a list of eligible lenders within 48 hours.

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The platform is powered by digital tools including connections to Companies House, open banking and accounting software packages.

Bosses said the pandemic had led to an increase in demand for financing, with around 35,000 companies submitting applications in the past year, up from 10,000 in the previous 12-month period.

Finpoint’s investment in Scotland led him to recruit Adrian Innes as Chief Revenue Officer and Malcolm King as a Corporate Finance Specialist.

Innes has over 30 years of experience working in banking and SME lending[petites et moyennes entreprises]for banks and fintechs. King would have a major bank…[smallandmedium-sizedenterprise)lendingforbanksandfintechsKingissaidtohavesignificantbanking…[smallandmedium-sizedenterprise)lendingforbanksandfintechsKingissaidtohavesignificantbanking…

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