Asset finance start-up EquipmentConnect is joining the award-winning Barclays Accelerator programme.
Launched in 2017, EquipmentConnect is an asset finance marketplace hosting equipment vendors and funders that offer small businesses access to lease finance, resale and lifecycle management of assets.
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The company runs a vendor-centric point-of-sale platform for UK SMEs to access asset finance.
“Finance, tailored to the equipment you sell, can be easily requested by your sales force and digitally arranged on up to £250k … By connecting with multiple funders, the result is affordable finance (from 5.95% APR),” according to the EquipmentConnect website.
The company identifies four business areas that it covers: precision engineering and advanced manufacturing; recycling and waste management; agriculture and food; and transport and logistics.
EquipmentConnect has been chosen with 10 other Fin-Tech start-ups to join the London programme, which has been going since 2014.
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By GlobalDataThe Barclays Accelerator is a 13-week programme for FinTech start-ups designed to help businesses with advice, support and tools to accelerate their business offerings.
The participating companies span across a diverse set of sectors including data science, gig technology, insurtech, enterprise software, asset finance, SME finance, proptech and consumer protection.
Over the next three months, the companies will work closely with a team of Barclays executives (“Techstars”) and other industry leaders to “refine and validate their business models,” Barclays said in a statement.
At the end of the programme in April, the companies will highlight their progress and showcase their propositions at an event at the Guildhall in London.
Managing director of group innovation at Barclays Mariquit Corcoran said: “Thanks to our amazing accelerator team and mentors, our 2019 global programmes were remarkable and we continue to see great things from our alumni companies.”
Kartik Varma, managing director at Techstars, said: “This year’s class is diverse across geographies, sectors and end markets – and includes 40% female founders. With our longstanding partner, Barclays, we are privileged to offer our 2020 class the power of two global networks, hands-on transformative mentorship and the resources they need to #DoMoreFaster and accelerate their businesses over the coming 13 weeks.”
