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Sunday, June 16, 2024

mycashline Partners with Shawbrook Bank for Enhanced SME Finance Support

Founded in 2018 by visionaries Dovi David and Yisroel Perkel, mycashline is on a mission to transform the landscape of small business financing in the UK. With an innovative approach that utilises AI and machine learning, mycashline is set to redefine traditional business lending, offering more nuanced and supportive financial solutions for small businesses.

The collaboration with Haogen Technologies Limited has been pivotal, enabling swift and realistic loan access for numerous SMEs across the UK. This has significantly contributed to their growth and scalability.

In a significant development, mycashline and Haogen Technologies Limited are delighted to announce securing additional funding from Shawbrook Bank. This strategic financial boost is aimed at propelling mycashline’s growth and its ability to support an even wider spectrum of UK SMEs in 2024.

Dovi David, the Founder and CEO of mycashline, shared his enthusiasm: “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, Director of Structured Finance at Shawbrook Bank, also commented on the collaboration: “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.”

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