ING takes stake in UK fintech platform for SME lending
18 September 2018
ING has invested £5 million in Funding Options, the UK fintech company that offers a marketplace for lending to SMEs.
The investment gives ING a minority interest in the platform.
Funding Options is keen to use the new capital to further develop the platform, increase the number of sales staff and further expand internationally.
Funding Options was founded in 2012 in the United Kingdom. In June, ING and Funding Options announced that they would be introducing the platform in the Netherlands as a new platform for lending to Dutch SMEs.
Funding Options is one of the first platforms in the Netherlands where SMEs can obtain loans from different providers. ING believes it’s important that SMEs with a good plan can choose the best lending option from a wide range of possibilities. By setting up the platform with Funding Options, ING will also take an important step in its innovation strategy to create an open platform in financial services.
ING Ventures, ING's investment arm that invests in fintech companies, is responsible for the investment.