Funding Options partners with Dutch banking group for Netherlands expansion
Online business finance marketplace Funding Options is expanding in Europe with a launch in the Netherlands.
Working in partnership with Dutch banking group ING, the firm will help SMEs in the country source alternative finance ranging from £1,000 to £10m.
The deal means companies that are not eligible for financial support from ING will be referred to Funding Options, which will see if alternative funding is available from a panel of lenders. Non-customers can also tap into the service through the ING website.
It marks the first time Funding Options’ services have been made available internationally.
The firm’s MD, Ryan Edwards-Pritchard, said: “Too often small businesses will face the challenge of not being able to access funding from mainstream lenders, whether because they are too young, too small or simply because they don’t meet the banks’ criteria.
“But this problem is not limited to the UK – it is a global issue that needs to be solved.”
According to data, there are an estimated 1.8 million small- and medium-sized businesses in the Netherlands.
Ryan continued: “We’re very excited to launch in the Netherlands through this partnership with ING. This is a great example of the banks and fintechs working together for the benefit of customers.
“We look forward to supporting Dutch small businesses to access alternative funding and achieve their goals – just as we have already supported thousands of UK ones.”