After making this statement, the businesses will concentrate on integrating their knowledge and range of offerings to enhance and optimise the small- and medium-sized business (SME) finance market as a whole.

With this agreement, the companies hope to take a significant step forward in their overall goal by providing their 10.000+ clients and users with an optimal chance to securely and directly access business finance through their platform.

Additional details on the partnership

Given the increasing obstacles and challenges that the European small business sector is facing, Countingup and iwoca will concentrate on offering financial support to SMEs as well as a safer, more effective method of managing their funds. Additionally, small firms are poised to make financial support more in line with their needs because they are critical to economic development and the industry's general digitalization.

Customers and clients will be able to apply for and obtain financing more quickly by combining Countingup's array of finance, accounting, and tax management tools with iwoca's flexible lending alternatives. Simultaneously, the integration will make use of Countingup's data and user interface to expedite the loan application process and lessen the time and complexity usually involved in obtaining business financing.

According to preliminary trial statistics, 70% of applicants heard back from the lender within an hour. Simultaneously, this expeditious procedure is anticipated to satisfy the SMEs' expectations, inclinations, and needs while adhering to industry regulations and legal frameworks. It is anticipated that iwoca and Countingup will give small and medium-sized businesses the development agility they want by utilising optimal technologies.

The promotion of a more robust and resilient economy will be the top priority for both financial institutions as they provide their patrons and clients more accessible and safe financing options. It is anticipated that this integrated financial services model, which is distinguished by a customer-centric approach, will also enhance financial inclusion.