multifi Raises £10M to Simplify Working Capital Finance for UK Small Businesses

January 2, 2025

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multifi, a London-based fintech startup focused on working capital finance for small and medium-sized businesses, has secured £10 million in initial loan capital from Fasanara Capital, a London-based asset manager and technology platform with $4 billion under management. The funds will enable multifi to offer revolving credit facilities of up to £200,000 to UK SMEs at a fixed monthly access fee of 0.3 percent and an interest rate of 1.99 percent per month on drawn credit, with no collateral required and decisions typically made within 24 hours.

multifi was founded in 2023 by a senior leadership team with deep roots in SME lending, having previously held positions at Aldermore, Barclays, Citi, and HSBC. The company's principal founder and chairman is Mark Blandford, the founder of Sportingbet PLC, who brings a track record of building and exiting technology businesses across fintech and adjacent sectors. CEO Rob Keown-Boyd and the broader team drew on their experience of watching businesses fail not for want of growth opportunities, but for want of accessible, uncomplicated finance at the right moment.

multifi's platform allows businesses to check their eligibility for credit in real time, access approved funds within 24 to 48 hours, and draw, repay, and reload the facility on a revolving basis without reapplying. The product is designed specifically for sectors where cashflow timing mismatches are common and costly — wholesale trade, manufacturing, logistics, and distribution — and where traditional banks have often been the least helpful. The platform currently offers revolving credit facilities from £5,000 to £350,000, with repayment schedules of three to six months.

The scale of the SME financing problem in the UK is substantial. Small and medium-sized businesses account for 99 percent of all UK companies and employ over 16 million people, yet 11 percent face closure or administration each year. Cashflow challenges are cited as the primary reason for failure in 82 percent of those cases. The market for alternative SME lending has grown rapidly as mainstream banks have retrenched from small business lending, particularly in the years following the 2008 financial crisis and again during the COVID-19 pandemic.

The £10 million from Fasanara Capital constitutes the initial credit facility pool that multifi will deploy to SME borrowers. Matt Kus, Head of Origination for Developed Markets at Fasanara, cited the company's technology-driven risk framework as a key differentiator, enabling it to disburse working capital quickly while maintaining prudent underwriting standards. The capital will support multifi's initial market rollout through a network of introducers and broker partners, with a phased expansion planned as the platform builds volume and customer feedback.

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