Playter’s platform is built on proprietary technology and includes its artificial intelligence (AI)-enabled broker hub Ari, which can assess a client’s credit profile and apply on the behalf of commercial finance brokers.
Its platform has been built to deliver fast and consistent credit decisions through the use of automated workflows.
Playter launched in 2001 and has provided more than £100m to UK SMEs for a range of purposes, including VAT funding, working capital, business expansion, training and recruitment.
With the acquisition, Playter will combine its technology and proposition with Shawbrook’s existing digital capabilities, distribution network and funding sources.
Playter’s platform, engineers and lending specialists are also expected to enhance Shawbrook’s ability to support SMEs.
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Neil Rudge, chief banking officer for commercial at Shawbrook, said: “SMEs still turn to their advisers and brokers to find the funding they need to invest in growth, efficiency and productivity. But one-size-fits-all funding does not work for business owners and management teams who need fast, flexible facilities that reflect their specific needs and circumstances.
“Playter has built a data-led platform that helps brokers do exactly that, simply. Combining its talented team, proven proposition and innovative technology with Shawbrook’s existing offering is an exciting opportunity, allowing us to further build on our presence in this large and growing segment of the market.”
Jamie Beaumont, founder and CEO of Playter, added: “Playter was created to give SMEs and brokers a clearer, faster and more accurate route to funding. Our proprietary artificial intelligence platform has demonstrated that technology can materially improve how businesses access finance and how brokers support their clients.
“Combining Playter’s technology with Shawbrook’s market reach, capabilities and funding resources, we are exceptionally well-placed to broaden access to fast, flexible finance for UK SMEs in this important segment of the market.”
