Lombard will initially provide Simply Asset Finance with wholesale funding to be deployed over three months.
Simply Asset Finance will utilise its network and digital tools to distribute funds to SME businesses across the UK.
The firms said the partnership would give SME borrowers market-leading access to finance, supported by Simply Asset Finance’s fast processes and artificial intelligence (AI) agent Kara. This is expected to reduce delays typically faced when seeking funding and help SMEs access the necessary finance.
The partnership aims to develop in the future to make lending accessible to SMEs through the capabilities of both lenders.
Andrew Kilheeney, managing director of 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.
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“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 at Simply Asset Finance, said: “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 supercharge 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.”
