ICAS and LendingCrowd sign strategic partnership
ICAS has entered into a three-year strategic partnership with LendingCrowd to offer members exclusive discounts.
ICAS and the LendingCrowd, the only fintech lending platform headquartered in Scotland, have signed a strategic partnership that will see LendingCrowd become ICAS’ preferred partner in its Business Loans category.
The agreement means that ICAS will provide LendingCrowd with a platform to communicate to their network of member accountants about the alternatives to traditional bank lending and the many advantages it offers. LendingCrowd in turn will offer a special discount on ICAS members’ clients fees on business loans, which will help to support even more borrowers.
The partnership will last for an initial period of three years, until 2022.
Commenting, ICAS Chief Executive, Bruce Cartwright CA, said: “We are pleased to have entered into a strategic partnership with LendingCrowd and secured a new, exclusive benefit for our members. Through our partnership ICAS members’ clients can now claim 25% off LendingCrowd business loan fees. We look forward to working with LendingCrowd over the coming years.”
LendingCrowd founder and CEO Stuart Lunn said: “We are delighted to announce this strategic partnership with ICAS, which brings real opportunities for us all. It is a fantastic platform for us to showcase the benefits of alternatives to traditional bank lending, and for ICAS members to then utilise these benefits. It marks another important step forward in LendingCrowd’s growth story, five years after we launched. We look forward to working closely with ICAS and making this partnership a real success story.”
Founded in 2014 and based in Edinburgh, LendingCrowd matches investors looking for a greater return with small businesses seeking finance to grow. LendingCrowd has facilitated over 740 loans to SMEs across the UK, totalling £65 million (with over £15 million loaned in Scotland). The company was one of the first fintech lenders to receive full FCA authorisation in 2016 and launched its first Innovative Finance ISA in 2017. To date, more than 7,400 investors have signed up to the platform. LendingCrowd is backed by Scottish angel syndicate Equity Gap, the Scottish Investment Bank (the investment arm of Scottish Enterprise) and a number of prominent investors from Scotland’s finance and entrepreneurial scene. LendingCrowd is regulated by the Financial Conduct Authority.