Spark Intel

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐌𝐨𝐧𝐞𝐲𝐟𝐚𝐜𝐭𝐬 𝟐𝟎𝟐𝟒 𝐀𝐰𝐚𝐫𝐝 𝐖𝐢𝐧𝐧𝐞𝐫𝐬! 🏆 𝐁𝐞𝐬𝐭 𝐔𝐬𝐞 𝐨𝐟 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐢𝐧 𝐒𝐌𝐄 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 Last week marked a significant milestone for our team here at Spark Finance, as we proudly received recognition from Moneyfacts Group plc for our pioneering efforts in applying technology to SME lending by scooping the Business Moneyfacts 2024 Award for 'Best Use of Technology in SME Finance'. This accolade is not just an achievement; it resonates deeply with our mission to revolutionise the SME lending landscape through technological innovation and serves as validation that our two key products address a real need in the market. 𝐒𝐩𝐚𝐫𝐤 𝐂𝐨𝐧𝐧𝐞𝐜𝐭: Our White Label platform, Spark Connect, offers a valuable tool for various businesses, including manufacturers, suppliers, FX firms, and more. It enables them to seamlessly provide debt products to their customers, empowering them with financial solutions tailored to their needs. 𝐋𝐞𝐧𝐝𝐞𝐫 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: Our Lender Solutions product leverages AI to automate critical processes for lenders. From analysing financials to generating report content and conducting searches, our solution streamlines operations, enhancing efficiency and enabling lenders to make informed decisions swiftly. Here's a glimpse into what sets Spark apart: 📁 𝐃𝐚𝐭𝐚, 𝐃𝐚𝐭𝐚, 𝐃𝐚𝐭𝐚: Comprehensive data forms the foundation of everything we do. With over 5 million UK business records meticulously curated from 60 diverse public channels, we ensure that our data undergoes rigorous testing against various benchmarks. 🤖 𝐀𝐈 𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧: Our proprietary algorithms utilise APIs to collect data and seamlessly analyse it against a tailored set of criteria. Infused with years of market experience, our AI-driven approach optimises benefits for lenders, ultimately enhancing the lending experience for SMEs. ✅ 𝐒𝐩𝐞𝐞𝐝: Efficiency is key, and technology enables us to achieve just that. Using AI we've accelerated the qualification process for new businesses by a staggering 75%. This translates to tangible savings of over £400 per Business Development Manager per month, underscoring the real-world impact of our technological innovations. The award sits proudly in our London office, a testament to what our incredible team has been able to deliver in a short space of time, and an inspiration to continue to develop and deliver value to our partners, positively affecting the industry. If you're curious to learn more about our solutions, we invite you to reach out. We'd be delighted to welcome you to our office for a discussion and a deeper dive into what makes Spark a game-changer in SME finance. A heartfelt thank you to Moneyfacts Group plc and all of our partners for their unwavering support on this journey. Together, let's forge ahead towards even greater heights! 🙏 🌐 www.spark-intel.co.uk ✉ g.wilks@sparkfinance.co.uk

Our report on Invoice Finance charges for the month of November is now out! November was a tough month for many in the industry, with a 23% fall for mid-tier lenders in comparison to 2023. This is likely to be in the aftermath of the wider disclosure challenges facing the wider lending sector. We've also produced bespoke end of year report cards - just for fun - for our key lending partners. Here our AI takes a deep dive into new business for each lender in 2024, comparing facility sizes, regional activity, sectors and more, to results in 2023. We also look at the competitors you've won business from, and lost business to. Finally, we take a look at your largest facilities added in the year. The outputs are analysed by our inhouse expert / comedian, George Wilks. If you would like a report card and are not on our usual distribution list, please contact George Wilks

✨ What a year it’s been... 2024 was one for the books. 🎥 Check out our recap video to relive some of our biggest moments. Here’s to building on this momentum and to starting 2025 on the right foot.🚀 #2024Recap #BringOn2025

𝐎𝐮𝐫 𝐥𝐚𝐭𝐞𝐬𝐭 𝐈𝐧𝐯𝐨𝐢𝐜𝐞 𝐟𝐢𝐧𝐚𝐧𝐜𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐦𝐨𝐧𝐭𝐡 𝐨𝐟 𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝐢𝐬 𝐨𝐮𝐭 𝐧𝐨𝐰! October was strong, with a few surprises, and overall numbers are cumulatively 2.2% ahead of 2023 (6.7% if we ignore RBS Invoice Finance).   It will be interesting to see how current market events will impact the figures in a couple of months 🤔 We have had lots of interest in our data from finance bodies, major banks and new to market fin-tech's. We'd like to make a version of these reports more accessible to the wider market. To find out how you can be on our mailing list please contact George at g.wilks@sparkfinance.co.uk

𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝐛𝐫𝐨𝐮𝐠𝐡𝐭 𝐚 𝐧𝐞𝐰 𝐦𝐢𝐥𝐞𝐬𝐭𝐨𝐧𝐞 𝐟𝐨𝐫 𝐒𝐩𝐚𝐫𝐤 𝐈𝐧𝐭𝐞𝐥! We’re thrilled to share that our platform reached 100 𝐮𝐧𝐢𝐪𝐮𝐞 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐮𝐬𝐞𝐫𝐬 in a single week — a significant step that brings us closer to our goal of making a real impact in the SME lending market through technology. To mark this achievement, we wanted to share some highlights from our journey and the progress we’ve made in our platform’s development so far. Stay tuned — this is just the beginning… spark-intel.co.uk

Employee ownership at Spark Finance / Spark Intel ... I’m excited to announce that eight more members of the Spark team are now equity holders. Most of them are in their early twenties! It’s a reflection of their dedication to the Spark mission and our belief in alternative ownership. My journey with employee ownership started 20 years ago. I had the privilege of advising a children’s nursery chain which was a pioneer in this space. I saw first-hand how employee ownership improved engagement, loyalty and shared vision. It also allowed the business to reward staff as owners. And it’s the fair thing to do. At Spark, we believe in sharing our success with the people who make it happen. We only allocate equity following careful consideration, so I’m immensely proud that almost 90% of our team now participates in the scheme. We are committed to transforming the SME finance industry, which is vital to the UK economy. SMEs are the key innovators, employers (est 16.3m people), and drivers of growth (est £2.3tn of revenue). Ensuring they have sufficient funding is our objective. With our team stepping into ownership roles, we’re ready to shape the future together. Abishekan Victor Sritharan, Alex Kyriakides, Callum Pond, Finn Murphy, Gabriela R Rocha e Silva , Kyrelos Khir, Owen Tizard, Tyrese Bob-Amara

Having finance in place already doesn’t mean there isn’t room for enhancement! In this case study, we introduced a new invoice finance facility with an increased size, secured under the RLS Scheme, reducing risks while maintaining competitive rates. With this improvement, the client was able and eager to start exploring options for their asset acquisition plans with Spark, marking the beginning of what we hope will be a long-lasting relationship. Explore more details below.

𝐎𝐮𝐫 𝐥𝐚𝐭𝐞𝐬𝐭 𝐈𝐧𝐯𝐨𝐢𝐜𝐞 𝐟𝐢𝐧𝐚𝐧𝐜𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐦𝐨𝐧𝐭𝐡 𝐨𝐟 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝐢𝐬 𝐨𝐮𝐭 𝐧𝐨𝐰! This September saw a 1.1% reduction in new facilities compared to 2023. Lloyds continue to lead the way for the high street Banks in terms of volume and are also the name behind one of the biggest deals this month. A strong month for some of the top Mid tier independents. We have had lots of interest in our data from finance bodies, major banks and new to market fin-tech's. We'd like to make a version of these reports more accessible to the wider market. To find out how you can be on our mailing list please contact George at g.wilks@sparkfinance.co.uk 

At Spark, we are thrilled with every opportunity to assist SMEs, 𝒆𝒔𝒑𝒆𝒄𝒊𝒂𝒍𝒍𝒚 when they are tech-driven companies looking to innovate their sectors. This case was particularly rewarding as we faced numerous challenges to achieve this approval. Read below to find out more... 💡 Interested in learning how Spark can help your business? https://lnkd.in/dfdBXbV6

As a tech-centred business, we wanted to take a fun twist to appreciate the invaluable work our developers do at Spark. We recently made a post encouraging our users to think about the amount of work behind the scenes one could never image by just looking at a button. Our developers don’t just write thousands of lines of code; they transform ideas into dynamic tools and interactive features, making your experience with the Spark platform intuitive, efficient, and enjoyable. The journey starts with abstract ideas and are translated into actionable actions in our platform. https://lnkd.in/dNGRRC2r