Playter provides short-term financing for UK-based businesses and has facilitated £100m in loans since its launch in 2021.
,The acquisition includes Playter’s platform, staff and proprietary AI-based broker hub. According to a Shawbrook statement, said it will combine Playter’s technology with its own digital services to broaden its suite of financing services.
,No financial terms for the transaction were disclosed.
,“SMEs still turn to their advisers and brokers to find the funding they need to invest in growth, efficiency and productivity,” said Neil Rudge, chief banking officer, commercial at Shawbrook. “But one-size-fits all funding does not work for business owners and management teams who need fast, flexible facilities that reflect their specific needs and circumstances.”
,It has been a busy year for Shawbrook. In October it completed its acquisition of B2B lender ThinCats.
,October also saw Shawbrook list on the London Stock Exchange.
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