Fincheck recently made a significant investment which has seen the financial services comparison site now become the largest of its kind in South Africa.
Said investment comes in the form of taking full management and equity of FundingHub, with Fincheck also the largest lead aggregator in the country, having signed up 71 banks, lenders and insurers the firm adds.
“FundingHub allows SMEs to apply in under six minutes for business finance, comparing multiple accredited finance providers and to make the most appropriate choice based on their business needs. There are many different forms of finance available to SMEs. This makes it difficult for them to choose which lender is best suited to their business needs,” explains Michael Bowren, Fincheck CEO.
“For instance, a business may not know whether it needs equipment finance, unsecured or secured term loans, overdrafts, lines of credit, debtor finance, merchant cash advances or credit cards. Free-to-use and independent, FundingHub, makes this really simple by filtering options and offering quotes from the most appropriate funders for their business,” he adds.
The firm also notes that once an SME completes an application with one of FundingHub’s lenders, the lender will make an offer, with the SME capable of applying to more than one lender and select the offer that is most suitable.
Lastly, Fincheck says that its core offering will remain in place, allowing consumers to compare business finance, business insurance, personal finance, life insurance, funeral cover, vehicle finance and insurance, debt consolidation and counselling as well as facilitating a complete health check.