SME credit platform, Multifi, has secured a £10 million investment from asset manager Fasanara Capital, aiming to significantly alter the SME finance sector.

The funding aims to bolster Multifi’s which is dedicated to simplifying credit access for Small and Medium Enterprises (SMEs). Multifi, recognising SMEs as the “backbone of the UK economy,” provides an interface where businesses can instantly check their eligibility for loans up to £200,000. The platform charges a fixed monthly access fee of 0.3% and levies an interest rate of 1.99% per month on the utilised credit.

Matt Kus, the Head of Origination for Developed Markets at Fasanara, expressed the asset manager’s commitment to bolstering the UK’s SME ecosystem through strategic funding partnerships with lenders like Multifi. Fasanara Capital, known for its quantitative focus, appreciates Multifi’s prudent risk control framework which extensively leverages technology. This tech-driven approach enables Multifi to offer working capital finance to UK SMEs through flexible facilities that ensure swift payouts.

This investment underscores Fasanara Capital’s support for innovative financial platforms like Multifi, aiming to foster a more robust and accessible financial landscape for SMEs in the UK.