Pri0r1ty Intelligence Group PLC (AIM: PR1) is pleased to announce an important partnership with Funding Circle, one of the UK’s leading providers of small business loans and finance. This collaboration will significantly enhance Pri0r1ty’s offering and expand its footprint within the small to medium-sized enterprise (SME) technology landscape by enabling Pri0r1ty’s customers to access alternative debt financing options seamlessly via the Pri0r1ty platform. Pri0r1ty will be expanding its core offering to customers with this collaboration.
This strategic move allows Pri0r1ty customers to access loans of up to £750k (subject to Funding Circle’s lending criteria) within minutes and with approved funds being settled typically within less than 48 hours. The Pri0r1ty Advisor large language model (LLM) will complete each application and repayment schedule autonomously providing a frictionless funding option to almost all small businesses customers. Pri0r1ty will be paid an introducer commission of up to 6.5% on all loans made to customers.
The partnership with Funding Circle aligns with Pri0r1ty’s commitment to delivering cutting-edge solutions that simplify the growth process for businesses at an affordable price point through a single and accessible platform. Through this alliance, Pri0r1ty aims to leverage the extensive market experience that Funding Circle has built in lending over £15bn to UK SME’s in recent years and in a market worth approx. £200bn in the UK in 2024.
Pri0r1ty will be offering this solution to active customers on its platform as well as new users, ensuring a seamless transition and technological integration. This further strengthens Pri0r1ty’s position in the competitive landscape of Growth-as-a-Service (GaaS) and enables the Company to tap into new market opportunities and deliver greater returns for Shareholders.
James Sheehan, CEO of Pri0r1ty, commented:
“We are thrilled to forge this partnership with Funding Circle. This collaboration opens up exciting opportunities for us and propels our mission to redefine how small businesses grow. Together, we are committed to providing businesses with faster and more accessible growth solutions that meet their evolving needs. We believe this partnership is just the beginning of a series of strategic initiatives that will drive our future growth. We’re excited to integrate new services on the platform that add value to our customers and drive revenue beyond our Software-as-a-Service (SaaS) subscription model.”
Featured Photo by Cytonn Photography on Unsplash.