|Description||Finance for UK SMEs|
|Seed, 12/2011 ||£450k|
|Series A, 12/2012 |
|Series B, 7/2013 |
EZBOB developed an automated and online lending platform which guides business owners through a short, user-friendly online application. Once registered, ezbob’s proprietary algorithms are able to analyse a business applicants creditworthiness in real time and a funding offer is presented to he applicant. The application requires no paperwork and can be completed in minutes.
Shareholders in the company include the UK Governments Angel Co-Fund and the company was recently appointed financial intermediary by the EU and the European Investment Fund (EIF) providing guarantees against portfolio losses.
EZBOB initial system was launched in 2012 targeting e-commerce businesses (+2,000 loans have been granted to online sellers in 2013). In 2013 ezbob released a system upgrade which included algorithms that allowed for the credit analysis of all UK businesses. All of the 5.2m UK registered businesses and soles traders can now apply for funding in minutes.
With EZBOB’s funding solution, gaining access to working capital is now done through a superior customer experience. Ninety percent of first time borrowers are returning customers.
EZBOB ClipAdded: 2/13/13