Location: London, United Kingdom
Business Model: Finance, B2B
Category: Lending, Finance, FinTech
Geographic Markets: United Kingdom
ezbob was the brainchild of its two founders that believed that the time had come to challenge the banks in regards to small business lending. The business was founded in 2011 when a team of financial experts and technology gurus began laying the groundwork for what would be the most advanced business lending platform in the market.
ezbob was introduced to the market in July 2012 and received a glowing reception. Since launch the company has provided funding to over 10,000 businesses across the UK. The company has also won awards and has been chosen to showcase its technology at several leading financial technology events such as FinovateEurope and Money2020 both in 2013, 2014, 2015 and efma 2014.
ezbob’s credibility shines when it comes to the industry bodies and investors that have joined the company. Equity shareholders include the UK Government’s Business Bank’s Angel Co-Fund, Bank Leumi, and Oak Tree Capital. In addition, ezbob was chosen to be the first internet lender in Europe to be appointed as a EU financial intermediary by the European Investment Fund (EIF).
The size of the UK SME market for the banks is estimtated to be circa £50B per annum.
After five years on lending in the UK ezbob signed its first white label agreement with RBS/Natwest under the brand ESMELOANS.com. RBS is using ezbob’s technology and infrastructure to grant loans to businesses around the UK using ezbob’s platform. RBS/Natwest’s SME lending amounts to 26% of the UK market total.
Ezbob has a large pipeline of banks and financial institutions.
A significant opportunity exists for banks to use ezbob’s platform to digitize their SME lending processes due to the fact that today:
The Due Diligence Report for ezbob, prepared with crowd analysis and predictive algorithms, perfect for investment assessment, research and general in depth analysis.
Oaktree Capital Management
The company has won awards and been chosen to showcase its technology at several leading financial technology events such as FinovateEurope and Money2020 in 2013, 2014, 2015 and EFMA 2014.
In 2015 ezbob and competitor Iwoca partnered with Alibaba to provide funding that would enable more UK businesses to do business with Chinese suppliers.
ezbob was the first online lender to be chosen to take part in the EU’s European Investment Fund Progress Microfinance agreement. One result of this agreement is
that the company receives insurance on a portion of their lending portfolio, helping ezbob minimize risks.
The company offers loans for SMEs and enterprises. Its range of services consists of Flexipay cards, business loans, and alterium business loans.
iwoca provides short-term finance to SMEs based in the U.K., Poland, Spain, and Germany.
Kabbage is a financial technology company. Its fully automated technology and data platform powers lending directly and for its partners.
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Content Sources: All the information presented above was retrieved from public sources (media, company website, data from the registrar of private shareholder, etc.).
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