Business marketplace Binq has integrated with SME lender iwoca, using Open Banking data to provide UK companies with funding options from £1,000 to £1,000,000.

With SMEs connecting their business banking to the Binq app, and providing its AI chat function with supporting documents, the broker API integration allows iwoca to assess eligibility in real time.

The AI chat function provides performance insights and matches SMEs with personalised funding, insurance and energy options.

SMEs can connect their business via Open Banking and uploading documents to the Binq app, enabling them to view their funding options, safely and securely.

Following the quick application, eligible businesses are approved within 24 hours, with funding available instantly.

“We’re excited to launch our broker API integration with Binq, streamlining the application journey so their brokers and customers can receive instant offers and updates without leaving the Binq platform," said Colin Goldstein, chief commercial officer, iwoca. "This partnership will drive faster decisions, closer collaboration, and greater value for UK SMEs.”

Binq launched in August 2025 to support owners in managing and growing their businesses.

Jamie Stewart, chief executive of Binq, said:
“This is a big step forward for Binq and the businesses we support. By partnering directly with iwoca, we can offer UK SMEs fast access to affordable funding, whether they need to smooth cashflow or grow.

“Within an hour of the integration going live, we had our first customer – while funding took just 15 minutes from form submission, and was handled end-to-end by our AI chat function. Speed and clarity make a real difference when a business needs funding, and this integration helps to deliver both.”

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