Irish business lender Capitalflow today announces plans to double its lending to support Irish SME and sole traders’ success in the coming 36 months. This comes after the team announced that they have surpassed the milestone of €1 billion in lending to Irish customers, since its inception in 2016.

Capitalflow is a Dublin-based business lender that works with Irish SMEs and property investors to provide flexible finance options to scaling companies through its digital platform.

Over the last few years, Capitalflow has emerged as a key player in Irish business lending and its latest milestone comes following a doubling in lending to new customers over the last two years and a general increase in demand for business loans across all sectors. This has been supported by an expansion of its distribution and partner network. 

Chief Commercial Officer, Stephen Byrne says, “We have reached €1bn in lending since we started up seven years ago – we have ambitions to double that again in the next few years.”

Byrne continues by saying that their position is a unique one in the Irish market. “We have seen how it can be challenging to access funding for non-bank lenders whilst the pillar banks have increased their market share by buying up the KBC and Ulster Bank loans.  We have the support of our parent bunq, which is a fully licenced EU bank, and we can respond to the needs of businesses across many sectors and see 2023 as a year to broaden our appeal and to enhance our finance offerings to SMEs.”

Acquired in late 2021 by Dutch digital bank, bunq, the Capitalflow team is planning to double its lending to Irish customers in the coming 36 months. With the reduction in competition in the business lending space following the announced exits of both KBC and Ulster Bank, an emerging player with bank liquidity is vital for the Irish business customers looking for choice. 

Last year Capitalflow saw resurgences in demand for business finance across the larger sectors such as construction, transport and tourism, along with an increase in demand for cashflow lending following the aftermath of the pandemic. This increase in demand related to sustainable investment in areas such as refrigeration and waste management. Working with customers directly and through vendors or brokers resulted in sectors including retail, dental and healthcare also seeing strong growth, while Commercial Real Estate transactions continued to be exceptionally strong both from trading businesses acquiring new properties and from the investment market.

In addition to existing offerings, which encompass Equipment and Vehicle Finance, Property Finance and Invoice Finance, Capitalflow has also introduced a range of new products including Green Finance, Cashflow and Term Loans to meet the needs of their SME customers. The new additions assist in positioning Capitalflow as a significant competitor to the traditional banks. 

Byrne added, Capitalflow also has an active partnership with the Strategic Banking Corporation of Ireland (SBCI) across various schemes and we wish to build on this through 2023.”

Capitalflow has built its reputation on being able to meet the needs for Business owners and SMEs across a range of sectors. It operates nationwide through a team of trusted and experienced lenders backed up through a significant investment in digital tools. All credit lending decisions are made locally.

Our approach is to be transparent and open with our customers and partners. We want to make lending easier, and we put people first in everything we do. Behind every business is an ambitious individual who is looking for our support to help them achieve their goals. We deliver funding directly to our growing customer base efficiently – offering great customer service though our nationwide team and partners, making finance simple and putting people first.” says Byrne.

Having increased its team by over 50% in the past 24 months, Capitalflow offers competitive business finance through a team of highly experienced lenders who have a deep understanding of their customers’ needs across many sectors including Construction, Transport, Retail, Hospitality, Services, Manufacturing, Agri and Commercial Property Investment.  

About Capitalflow

Established in 2016 and founded by Ronan Horgan with equity investment from Pollen Street Capital, Capitalflow is Ireland’s fastest growing specialist business lender. Partnering with Irish SMEs and Property Investors, Capitalflow provides flexible finance options through nationwide network of relationship managers and partners to businesses looking to grow and scale. Headquartered in Dublin, with offices in Santry and Baggot Street, the company employs over 80 experienced decision makers, and it has advanced over €1 billion in the Irish Market.

In 2021 Capitalflow was acquired by Dutch fintech bunq, founded in 2012 by serial entrepreneur Ali Niknam, and earlier this year bunq launched its Irish IBAN offering quick sign-up, transparent fees, and a suite of easy-to-use banking products for Irish consumers.

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About bunq

bunq was founded in 2012 by serial entrepreneur Ali Niknam (1981) after he secured the first European banking permit in over 35 years. He set out to radically change the traditional banking industry and was bunq’s sole investor until 2021, financing the company with €98.7m of his own money. This provided bunq with the freedom and independence to build a bank rooted in the wants and needs of its users. By the end of 2021 user deposits at bunq surpassed €1.1 billion, having doubled in 2019 and then again in 2020.

In July 2021 bunq announced the largest series A round ever secured by a European fintech. bunq raised €193 million in a deal with British private equity firm Pollen Street Capital, valuing bunq at approximately €1.6 billion. At the same time, bunq also reported its first-ever profitable month. The first investment of external capital will help bunq to further expand across Europe and to continue incorporating M&A as part of its business growth strategy. As part of the deal, bunq acquired Capitalflow, a Dublin-based company which lends to SMEs across a broad range of sectors in the Irish economy.