"Through our partnership with Growth Street we will be helping Starling’s business account holders unlock new sources of flexible capital. "
Growth Street will be the first SME finance provider to go live on Starling’s in-app Marketplace, which launches later this year and will give users access to a range of services from pensions to insurance to loyalty schemes.
Initially, the Starling interface will work for existing and new users of Growth Street’s flagship SME finance product, GrowthLine. Growth Street customers will be able to access real-time information on their facility limits and available funds through the Starling Marketplace.
Growth Street’s peer-to-peer platform matches investors’ funds with growing SMEs. Its GrowthLine credit facility works much like an overdraft: once a business customer is given a limit, they can draw down funds and make repayments as often as they like in a given month.
Greg Carter, CEO of Growth Street, said: “I’m thrilled that we will be going live on Starling’s Business Marketplace. We want to make business finance easier and faster than ever before, and giving users access to crucial information in real time is a great step towards that goal.
“Growth Street shares a vision with Starling: we both want to help businesses grow and prosper. Having the chance to make that happen together is very exciting.”
Anne Boden, CEO of Starling Bank, added: “All too often, small businesses find it hard to access capital at the moments they need it most, often for reasons they can’t understand or don’t think fair.
“Through our partnership with Growth Street we will be helping Starling’s business account holders unlock new sources of flexible capital. This partnership will bring added value to customers of both Starling for Business and Growth Street.”
