UK FinTech Curve has made a bid for a £10m grant in order to upgrade SME financing during the pandemic.
The company consolidating payment cards under one card has made the bid for the BCR Capability and Innovation Fund grant, saying it would match the investment to offer SMEs for a financing lifeline to get them past the Covid-19 downturn.
It will do so by providing two products, Curve Cast and Curve Credit, to help the firms.
Curve Cast will enable several people within a credit company to access the business credit card without having to share sensitive information like a card number.
Curve Credit will provide credit to businesses, each transaction automatically prompting a notification on the best financing alternatives. This, Curve said, would provide small businesses with a retrospective line of credit.
Curve CEO Shachar Bialick said the two new products will “take the best of Curve’s unique tools for managing money and apply them to the biggest challenges faced by British entrepreneurs.”
Curve COO Nathalie Oestmann said that the BCR grant would mean 75 new full-time jobs. “If we are successful in our application, we are determined to work closely with SMEs to maximise the opportunities and create customer-focused products that best serve the needs of business in these challenging times,” Oestmann said.
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