LoanBook, a large SME marketplace lender based in Spain, has formed a new partnership with Sage, a market-leader in cloud accounting, payroll and payments software, to offer Sage’s Spanish customers a direct, in-product channel to alternative finance options.
According to LoanBook, Sage will offer its SME and accountancy customers access to LoanBook’s working capital loans, both in-product and within Sage’s wider ecosystem.
Sage’s customers will benefit from a streamlined borrowing process as LoanBook will have access customer data in order to improve the quality and speed of its underwriting – a key improvement form many SMEs seeking credit.
“We are excited to go a step further in our collaboration with Sage with a direct in-product integration,” said James Buckland, CEO of LoanBook. “This partnership is based on the shared vision and commitment of Sage and LoanBook to support the SME community in Spain in becoming more competitive through improved access to finance and to innovative technology solutions.”
LoanBook has originated over €21 million during the last 12 months, achieving year-on-year origination growth of 198%. Investors have captured a net annual return of over 5% for its investors.