365 Business Finance partners with FinTech Groov

By Gloria Methri

365 Business Finance has partnered with Groov, a FinTech company that provides API access to data and revenue insights, to fully automate its SME lending offering. The London-based lender is the first to partner with Groov.

The integration will enable 365 Business Finance to get real-time revenue-based information and insights on transactional sources of data for its clients.

“We are excited about our new partnership with Groov,” said 365 Business Finance Managing Director Andrew Raphaely. “In conjunction with our existing open banking technology, this gives us the ability to fully automate our offering, which ultimately means faster funding decisions for our clients. As a leader in revenue-based lending for UK SMEs, this is an important development in our FinTech capabilities.”

365 Business Finance funds from £10,000 – £300,000 to sole traders, partnerships, and limited companies across the United Kingdom. Its partners benefit from high conversions coupled with commissions, even on renewals.

Mark Hazzard, CEO of Groov, said, “We are delighted to announce our partnership with 365, so soon after closing a seed funding round. It is an excellent proof point for our Connect and Insights API products. We look forward to powering automated lending for UK merchants through the combination of Groov’s data infrastructure and 365’s in-house customer and risk solutions.”