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ING invests GBP 5 mln in UK lendtech Funding Options

Thursday 20 September 2018 | 01:55 PM CET

ING has invested GBP 5 million in Funding Options, a UK fintech company that offers a marketplace for lending to SMEs.

The investment gives ING a minority interest in the platform. This follows on from June 2018, when ING chose to work with Funding Options to bring new features to customers across Europe.

In the latest development, Funding Options will use the new capital to develop its platform, increase the number of sales staff and expand internationally.

According to ING, Funding Options is one of the first platforms in the Netherlands where SMEs can obtain loans from different providers.

ING Ventures, ING’s investment arm that invests in fintech companies, is responsible for the investment.

Back in July 2018, ING said it will invest EUR 21 million in Irish payments platform TransferMate as they seek out more SME customers and corporate clients.

More: Link