mycashline Gains Further Backing from Shawbrook Bank for SME Finance Growth
mycashline, the brainchild of Dovi David and Yisroel Perkel established in 2018, is on a mission to redefine small business finance in the UK. By harnessing the power of AI and machine learning, mycashline is determined to refine the traditional business lending process, offering a more empathetic and nuanced financial support system for SMEs.
Partnering with Haogen Technologies Limited has been key to mycashline’s success, enabling a multitude of small businesses to secure crucial funding for their growth and development.
In a recent announcement, mycashline, together with Haogen Technologies Limited, has confirmed the acquisition of further funding from Shawbrook Bank. This financial infusion is aimed at catalyzing mycashline’s expansion and its ongoing support for a wider range of UK SMEs in the upcoming year.
Dovi David, mycashline’s Founder and CEO, shared his enthusiasm for the partnership’s expansion: “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, Shawbrook Bank’s Director of Structured Finance, also commented on the funding increase: “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.”