Manchester-based fintech BankiFi partners with Praetura Ventures (Praetura), to boost SMEs access to funding by offering a new lending-as-a-service solution. The cooperation will allow Praetura to use BankiFi’s tech platform to offer invoice and asset finance to SMEs underserved by traditional high street banks.
The new solution empowers traditional lenders via a platform to meet the financing needs of the UK’s small businesses. The initial risk of the investment will be assumed Praetura, till the businesses grow and reach the eligibility criteria, then the banks will take over.
