Major Fintech partners up with Platform Finance (ASX: COG)

Non-bank Fintech lender, Moneytech Finance has announced a strategicreferral partnership with major broker aggregator, Platform Finance, to bringits small business Line-of-Credit solution to brokers across the country.Platform Finance is a subsidiary of the ASX listed COG Financial Services groupwhich is Australia’s largest asset finance aggregator. The partnership willallow Platform brokers to access Moneytech’s market leading SME Line-of-Creditproduct from this week onwards. It will also allow Platform brokers to accessvarious other Moneytech products including Debtor Finance, Trade Finance,Equipment Finance and Property Loans.

Moneytech’s Chief Executive Officer,Nick McGrath, said “Platform Finance are a market leader in the commercialfinance aggregation space and this partnership will assist brokers in thenetwork to access small business finance in a seamless manner through ourautomated technology”.

McGrath said, “Moneytech is also anaccredited lender under the federal governments SME Loan Recovery Scheme,SMEG3. This will allow Platform brokers and its customers to access governmentguaranteed loans which allows streamlined underwriting and lower borrowingcosts for SME’s”.

Damian Mantini, Platform’s DirectorAggregation and Strategic Partnerships said “Our broker network is starting tomove into this SME lending space and our new partnership with Moneytech willgive them more options to further assist their customer base. We are excited tohave Moneytech join the Platform lender panel and offer their products to ourbroker partners.”