Shawbrook Group has acquired Playter, a FinTech lender that provides established UK SMEs with credit lines and short term cashflow loans, as it seeks to boost its lending capabilities.

Playter's credit platform is designed to deliver consistent credit decisions by leveraging automated workflows that transform complex data into actionable insights.

The platform is based on proprietary technology and includes ‘Ari,’ its AI-powered broker hub, designed to make it easier for commercial finance brokers to assess their clients' credit profiles and apply on their behalf with a single click.

Shawbrook explained that the acquisition will combine Playter's technology and offering with the challenger bank’s existing digital capabilities, distribution network, and financing advantages.

The transaction will further strengthen Shawbrook's ability to support more SMEs with flexible financing for investment and working capital, the bank said.

Since its launch in 2021, Playter's platform has provided over £100 million in loans to UK SMEs for a range of purposes, including VAT financing, working capital, business expansion, training and recruitment.

Neil Rudge, chief banking officer, commercial at Shawbrook Bank, emphasised that one-size-fits-all financing is not always suitable for SMEs that require flexible facilities, with Playter's data-driven platform helping brokers to simplify this process.

“Combining its talented team, proven proposition and innovative technology with Shawbrook’s existing offering is an exciting opportunity, allowing us to further build on our presence in this large and growing segment of the market,” he added.

Jamie Beaumont, founder and chief executive at Playter said that combining Playter’s technology with Shawbrook’s market reach, capabilities and funding resources, makes the partnership “exceptionally well placed” to broaden access to fast, flexible finance for UK SMEs in an important segment of the market.

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