Forward Advances, a U.K. revenue-based financing solution for e-commerce and SaaS businesses, has partnered with Salt Edge, a leader in data aggregation and business transaction categorization tools. The data from Salt Edge will provide Forward Advance a 360-degree view of a businesses’ financial situation and behavior, which is valuable in making calculated funding decisions. according to a press release.
Forward Advances supports a wide set of fast-growing e-commerce and SaaS businesses, providing revenue-generating short-term cash injections to fund growth activities. Salt Edge’s partner program offers data aggregated from major U.K. banks that verifies the applicant’s business performance immediately, streamlining the process of making a lending decision from several days to just a few hours.
“We feel a special responsibility and honor to support and even accelerate businesses’ development by bypassing complex eligibility checks and removing exhausting bureaucratic procedures in the process of acquiring additional funding. Using Salt Edge’s open banking technology, Forward Advances obtains deep and real-time insights that allow them to understand their customers’ businesses quickly,” Hasam Silva, managing director at Forward Advances said in the release.