Capitalise raised £10 mn to launch an integrated credit protection service

By Joy Dumasia

Capitalise, a digital ‘super platform’ that allows accountants and their SME clients to access capital from mainstream and alternative finance providers with a suite of credit and risk tools, has raised £10 million from Experian, QED Investors, Gauss Ventures, Hambro Perks and Post Finance. 

The investment will expand Capitalise’s accountant and SME platform with a suite of integrated credit protection and risk management services designed specifically for SMEs. 

Powered by Experian and embedded within an accounting service and SME balance sheet, ‘Capital Reports’ takes up where traditional credit reports leave off. It allows accountants to protect their SME clients from unforeseen risks of their clients’ and suppliers’ credit positions by warning of potential defaults; it analyses what is available to a business and its propensity or need to borrow and provides real-time access to Capitalise’ curated marketplace of over 100 mainstream and alternative lenders.    

‘Capital Reports’ will be available on the Capitalise platform, which underpins the digitisation and access to capital of over 2,000 UK accounting firms and has delivered over £1billion of offers from its panel of 200 capital providers. Delivery will be through a free and paid subscription model.

Capitalise CEO and Co-Founder Paul Surtees said: “Everybody has had to think differently during the pandemic, including us, so we created a virtuous circle in which SMEs and their advisors are shielded from risk and helped to grow. Powered by Experian’s credit data, our propensity modelling and open banking, we underline our commitment to our accounting community by bringing their data to life and supporting their SME clients, in bad times and good.”

Yusuf Ozdalga, London Partner at QED Investors, commented: “Capitalise’s unique platform helps accountants better serve and help their clients by demystifying and streamlining the funding process, and bolsters their position as trusted advisors. This is an exciting stage in the Capitalise growth story, and we are excited to be a part of it.”