Funding Options wins Phase 2 of Nesta's Open Up Challenge

6 December 2018

Funding Options has been named a winner in the second phase of Nesta's Open Up Challenge, the prize designed to encourage innovation in fintech. Funding Options is one of only three companies to have won both stages of the challenge, having won Phase 1 back in December 2017.

Our founder and CEO, Conrad Ford, said:

“We’re delighted to be one of the winners of Nesta’s Open Up Challenge yet again. Every year millions of small businesses find themselves unable to access funding from the mainstream lenders and we exist to provide these firms somewhere to turn. In our entry, we showed how we can use Open Banking data to truly benefit small businesses by allowing them to quickly and easily compare and drawn down a loan.

“Access to finance causes countless sleepless nights for the UK’s hard-working small business owners but at Funding Options we can use Open Banking data to make this process much less painful. This prize money will help us support thousands more businesses to achieve their goals and fulfil our mission to help small businesses walk tall.”

You can find out more in Finextra's coverage.