The funding comes from Pool D of the Capability and Innovation Fund to support financial technology relevant to small and medium enterprises.
"Fluidly works to help SMEs sleep better at night, by providing control, certainty and confidence around cashflow. We’re thrilled to have been awarded this £5m grant by BCR to scale our impact and support for businesses."
The company has received a £5m grant from Pool D of the Capability and Innovation Fund to deliver £0.5bn in alternative lending by the end of 2022.
"Small businesses are at the heart of the UK economy and it’s vital they are able to access a range of funding choices when they need it. Winning this grant from the Capability and Innovation Fund helps us accelerate our plans to help SMEs across the country achieve their goals. It will help us develop much needed technology solutions to support small businesses in local communities to access funding, and it will also enable us to continue to grow the alternative lending market. We have already delivered £0.25 billion in funding for more than 5,000 hard-pressed UK small businesses, from Cornwall to Skye, and from Northern Ireland to Norfolk."
The funding was awarded through the Capability and Innovation Fund Pool D grant to develop a global transaction platform for UK businesses.
"Form3’s FI API payment technology and Ebury’s global SME transaction services are already disrupting payments and forex. Our plan is to combine these unique capabilities to significantly disrupt the market and give UK SMEs access to these services at scale through our FI clients, enabling UK SMEs to grow their businesses internationally and focus on their core businesses."
EarthSense has secured grant funding from Innovate UK to deliver a partnership air quality project in Wolverhampton.
"Using the information from the app, users can choose to avoid certain high pollution areas, reducing the amount of emissions inhaled, and hopefully divert traffic away from those areas, thereby reducing the levels of pollution – a positive result for everyone."
The grant will fund an online platform providing researchers with access to AI models and algorithms.
"This partnership and funding clearly indicate the importance and value of artificial intelligence as a new approach to support UK SMEs and reinvigorate drug discovery. Our aim is to help deliver a platform which is of high value to UK SMEs to advance their own drug discovery projects faster and more efficiently by accessing otherwise inaccessible, complex technical expertise"