"By partnering with Simply, we are combining Lombard's strength with an innovative, technology-led platform to help more businesses access the funding they need to succeed"
- Andrew Kilheeney - Lombard
Simply Asset Finance has agreed a partnership with Lombard, part of NatWest Group, combining Simply's technology-led origination platform with Lombard's institutional funding to expand SME asset finance access across the UK.
Founded in 2017, Simply Asset Finance built its lending model around a proprietary end-to-end platform designed to assess businesses beyond their balance sheets. Its AI agent, Kara, supports processing and integration, giving SME borrowers faster access to decisions.
The partnership with Lombard, the UK's largest provider of asset finance, is intended to extend that reach further into the scale-up market.
The initial phase will see Lombard provide Simply with a wholesale facility to be deployed over three months, with further development planned to deepen the combined offering.
Simply will drive origination through its national network of local experts and vendor relationships, distributing funds to businesses across the UK. Approved customers will benefit from Simply's quick processing capabilities while being backed by Lombard's financial strength, helping businesses cut through traditional funding delays and secure capital for immediate growth.
Andrew Kilheeney, managing director of wholesale and specialist businesses at Lombard, said: "SMEs across the UK need fast, reliable access to finance to manage uncertainty and pursue growth. By partnering with Simply, we are combining Lombard's strength with an innovative, technology-led platform to help more businesses access the funding they need to succeed."
Kilheeney also acknowledged the internal effort behind the deal. "Lombard has a proven track record of working with industry specialists to create partnerships that add value to our customer proposition," he said. "A special thanks goes to the multiple teams across Simply, NatWest and Lombard that supported the delivery of this partnership."
Ylva Oertengren, co-founder and chief operating officer of Simply Asset Finance, said the deal marked a significant step for the business. "We are incredibly excited to be able to join forces with Lombard through this partnership," she said. "The combination of our market-leading capabilities and Lombard's track record as the largest provider of asset finance will not just super-charge our ability to help SMEs achieve their growth ambitions but also unlock new pools of business and reach new customer segments. This origination will be key to driving UK growth."
