Multifi provides unsecured credit lines of up to £350,000 for small and medium-sized businesses, enabling them to manage cash flow and finance operational expenses without collateral. The platform offers a quick online application process, allowing businesses to access funds within 72 hours and benefit from clear, fixed fees with no hidden costs.
Funding
$12.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Small and medium-sized businesses often face challenges in managing cash flow and funding operational expenses due to limited access to flexible credit solutions. Traditional financing options can be restrictive, require collateral, and involve lengthy application processes, hindering businesses from seizing growth opportunities and efficiently managing day-to-day expenses.
Solution
Multifi provides unsecured, revolving credit lines up to £350,000, enabling SMBs to manage their finances with greater flexibility and speed. The platform offers a streamlined online application process, providing businesses with access to funds typically within 72 hours. Multifi's credit lines can be used for various purposes, including funding equipment, stock, bills, payroll, and international payments. Repayments are structured over six months, with interest fees decreasing each month as the balance is paid off.
Target Audience
Multifi primarily targets small and medium-sized businesses in the UK with an annual turnover between £50,000 and £5,000,000, seeking flexible and unsecured credit lines to manage cash flow and finance growth.
Features
- Unsecured credit lines ranging from £5,000 to £350,000, based on 15% of the business's last 12 months' turnover
- Revolving credit facility that replenishes as repayments are made, providing continuous access to funds
- Fast access to funds, typically within 72 hours of application
- Flexible repayment terms of six months with decreasing interest fees
- Competitive foreign exchange rates for international payments
- No setup fees and transparent pricing with fixed monthly fees (0.3%-0.5% of the credit limit) and interest rates (2.49%-3.49% per 30 days on used credit)
- Integration with a Multifi current account for seamless payments and automatic repayment processing
- Open Banking integration for smooth credit assessment and ongoing monitoring