Fleximize has joined British fintechs such as Worldpay, ClearBank and Funding Options to call for better financial support for the UK's SMEs.
The consortium is headed by Nick Ogden, founder of WorldPay, with an aim to provide immediate liquidity to the small businesses negatively impacted by Covid-19. Specifically, the consortium is lobbying for Government-backed loans of up to £150,000 through £5 billion of funding.
So far, a total of 166 British fintech businesses have come together to call for Government to provide financial support that will help UK SMEs come through the other side of the pandemic. More lenders are being encouraged to join.
Peter Tuvey, Co-founder and CEO, said: "SMEs have been the backbone of the UK economy for years, and we need to pull together to ensure we're doing what we can to support them through these unprecedented times. There are tens of thousands of UK SMEs eligible for financial support through the pandemic but they're just not receiving the funding they need quickly enough."
Nick Ogden, leader of the consortium, said: “The consortium will enable access to lending and is expected to facilitate easy onboarding for businesses and fund delivery. We sincerely believe that working cooperatively with the industry and Government, we can support the lenders many UK SMEs require in their hour of need.”