FinCova

FinCova, a marketplace for UK business finance and services

FinCova operates as an intermediary marketplace aimed at UK companies. Rather than lending directly, it introduces firms to a network of partners that can supply alternative products for their business. The company states explicitly that it is not a lender or a credit broker and that it provides information on various alternative providers so that each business can decide for itself, based on the features and benefits those providers set out.

Its catalogue of solutions is grouped into two broad areas: business finance and essential business services. The finance side covers merchant cash advance, business loans, flexible credit, asset finance, vehicle finance and business credit cards. The services side includes business banking, insurance, utilities and connectivity.

How the introduction model works

According to the information published on its site, FinCova may receive a commission or finders fee for introductions made to its partners, with the details set out in the partner agreement. Quotations from those partners are subject to status and income, applicants must be over 18, and terms and conditions apply.

The company frames its role as simplifying the search: it argues that comparing hundreds of providers is time-consuming and confusing, and that its marketplace brings a range of business products together so owners can explore the options in one place.

Origins and track record

FinCova describes itself as the result of experience gained at Paytek, which it says has worked in business finance and payment solutions for over ten years and has helped more than 250,000 businesses. The site also cites figures of 11 years in business, 250 businesses funded and 10 essential business solutions. The team is presented as made up of people who have run multiple businesses themselves.

Sectors served

The company lists the kinds of businesses it supports across the UK, including restaurants, pubs and bars, coffee shops, bakers, takeaways, garage services and retail.

Stated principles

FinCova summarises its approach in five points: simple processes and clear choices, honest and straightforward information, vetted partners, quick decisions and turnaround times, and guidance at every step. It also publishes pages on treating customers fairly and on complaints, alongside its terms of service.