Simply Asset Finance announces partnership with Lombard

• Ground-breaking partnership will significantly extend Lombard’s reach into SME lending and drive origination
• Simply’s unique end-to-end platform will enable SME customers benefit from market-leading access to finance
• New partnership underscores Simply and Lombard’s commitment to support for businesses across the UK

Specialist SME lender, Simply Asset Finance, has announced a ground-breaking new partnership with Lombard, part of NatWest Group, that will combine the unique strengths of each business to significantly extend Lombard’s reach into the scale-up market and deliver the support of tech-enabled lending to businesses across the UK.

Founded in 2017 by a team of asset finance specialists, Simply Asset Finance delivers a digital path to finance for small- and medium-sized businesses across the UK – looking beyond the balance sheet to empower its clients to realise their business potential. With its proprietary end-to-end lending platform built from the ground up, Simply’s capabilities ensure market-leading efficiencies for SME borrowers, supported by its digital AI-agent, Kara.

Approved SME customers will benefit from market-leading access to finance, enabled by Simply’s quick processing functionality and integration with AI-agent Kara, while being backed by the institutional strength of Lombard. This combination will allow businesses to overcome traditional funding delays and secure the capital needed to seize immediate growth opportunities.

Simply drives origination, leveraging its national network of local experts and vendor relationships. Through its tech-enabled approach to lending, Simply will distribute funds to applicable businesses across the UK.

The initial phase of the partnership will provide Simply with a Lombard Wholesale facility to be deployed over three months. Further development aims at making significant contributions to the lending accessible to UK businesses through a seamless offering combining the strengths of both parties.

Andrew Kilheeney, Managing Director, Wholesale and Specialist Businesses at Lombard, part of NatWest Group, said: “SMEs across the UK need fast, reliable access to finance to manage uncertainty and pursue growth. By partnering with Simply, we are combining Lombard’s strength with an innovative, technology‑led platform to help more businesses access the funding they need to succeed.

“Lombard has a proven track record of working with industry specialists to create partnerships that add value to our customer proposition. A special thanks goes to the multiple teams across Simply, NatWest and Lombard that supported the delivery of this partnership.”

Ylva Oertengren, co-founder and COO, Simply Asset Finance, comments: “We are incredibly excited to be able to join forces with Lombard through this partnership. The combination of our market leading capabilities and Lombard’s track record as the largest provider of asset finance will not just super-charge our ability to help SMEs achieve their growth ambitions but also unlock new pools of business and reach new customer segments. This origination will be key to driving UK growth.”

ENDS

Media contact

VCCP Roar: simplyassetfinance@vccproar.com

About Simply Asset Finance

Simply Asset Finance was founded in April 2017 by a team of asset finance specialists, in response to the need for innovation and disruption in the sector. It offers an alternative financial model to banks and looks beyond a balance sheet and credit rating, supported by a digitally enabled customer journey. Simply Asset Finance consider a customer’s potential and work with them to identify and implement the best solution to help them succeed. Their highly experienced sales team is made up of people with extensive knowledge of the industries they lend to. This means they understand the day-to-day challenges that businesses face and the dedicated support teams guide customers through the process, helping them every step of the way.

Simply Asset Finance has lent more than £2bn to over 13,000 small and medium businesses across a wide range of sectors including transport, construction, manufacturing, recycling, and agriculture.