Andrew Ward, managing director of Reparo Finance, pointed to the ability to provide financing to “neglected yet viable U.K.-based businesses.” Ward said that “partnering with Mambu has allowed our company to quickly bring more sophisticated loan offerings to market, while offering the necessary expertise and scalability to meet growing customer demand.”
Eugene Danilkis, Mambu CEO, added that his company’s technology would help make it easier for Reparo to develop “new and more accessible loan offerings” to market to the historically underserved small businesses.
From left: Mambu founder and CEO Eugene Danilkis, and David Hamilton, advisory board member, presented at FinovateAsia 2013 in Singapore.
Mambu has had a busy 2015. The company announced earlier this month that Ferratum Group selected its technology to power SME lending, and in June added a variety of new features such as multi-account credit arrangements, balloon payments for real estate and auto lending, asset-backed lending, and more. Mambu began the year being named to FinTechCity’s FinTech 50.
Reparo Finance provides SME financing options such as asset-secured loans, that range from 50,000 pounds to 1 million. Terms range from one to 24 months and a lending decision takes only two business days. The company plans to use Mambu to provide greater flexibility when it comes to payment schedules. Reparo was founded in 2014 and is headquartered in Manchester, United Kingdom.
Founded in December 2011 and headquartered in Berlin, Germany, Mambu made its Finovate debut at FinovateAsia 2013 in Singapore.