22 December, 2024
Finance

mycashline and Shawbrook Bank Strengthen Ties to Support UK SMEs

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In an ambitious move in 2018, Dovi David and Yisroel Perkel founded mycashline with the goal of transforming small business financing in the UK. Leveraging advanced technologies such as AI and machine learning, mycashline aims to offer a more compassionate and adaptive approach to business lending.

Through its partnership with Haogen Technologies Limited, mycashline has been pivotal in providing small businesses with access to significant funding, facilitating their ambitions to expand and evolve.

Highlighting a pivotal moment in its journey, mycashline, in conjunction with Haogen Technologies Limited, is pleased to announce that it has secured further investment from Shawbrook Bank. This additional funding is set to spur mycashline’s growth and enhance its capacity to support an even greater number of UK SMEs in 2024.

Dovi David, the driving force behind mycashline, expressed his anticipation: “We’re very excited to grow our partnership with Shawbrook. The teams at mycashline and Shawbrook have built a really strong relationship over the last year, and mycashline’s decision to choose Shawbrook to expand its funding line is testament to this. The new funding will accelerate our growth, solidifying our role as a key player in SME finance. With a strong brand, unwavering values, and a popular product, we’re poised for even greater success. We can’t wait to get going with more of the same. We know that 2023 was a difficult period for small businesses, but with some light at the end of the tunnel, we’re confident we’re able to help even more businesses grow and strive in 2024.”

Warren Mutch of Shawbrook Bank shared his insights on the continued partnership: “Having worked with Dovi and the team at mycashline on the original funding line, we were very impressed with their offering and the success they had. Naturally, we were well-placed to arrange an increased debt line and moved swiftly to support the business as it looks to accelerate its growth and assist more SMEs in the marketplace.”

News Team

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