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Asset finance aggregator welcomes seven new lenders

by reporter5 minute read

Platform Finance has announced that it has added seven new lenders and a new insurance provider to its panel to provide its broker network with a larger range of solutions.

The ASX-listed asset finance services partner, which acts as a car and equipment finance aggregator, recently welcomed seven new lenders to the panel.

The new lenders to have joined Platform Finance’s panel include:

  • Branded Financial Services: a financier for commercial customers and consumers purchasing motor vehicles;
  • OnDeck: a small business loan specialist
  • Society One: a personal loan lender for both business and private use
  • Scottish Pacific: a small business finance provider
  • Bigstone: a commercial asset finance specialist
  • VWFS: a lender specialising in fleet, finance and novated leasing products
  • Judo Capital: a bank specialising in SME finance

In addition, Platform Finance has welcomed LFI Group to its panel as a provider of Vehicle Equity Insurance for total vehicle loss and Loan Protection Insurance.

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Speaking of the new additions to Platform Finance’s panel, the director of aggregation and strategic partnerships, Damian Mantini, commented: “We’re excited to have grown our lending panel so significantly and to partner with such a great range of lenders.

“Diversifying our product and service offering ensures brokers can cater to a wide variety of client needs and enable them to achieve their goals.”

According to Mr Mantini, given that asset finance “isn’t a one-size-fits-all situation”, with businesses requiring different solutions, it was “essential” for Platform Finance to “partner with lenders who offer a wide range of products and services to suit these ever-changing needs”.

“This enables us to support brokers to provide great options, the highest level of customer service and achieve better outcomes,” he said. 

“For brokers, having this expanded offering enables them to further bolster their relationship with their clients and to reach new clients. 

“Feedback from our broker network highlights the greater role they are now playing in assisting businesses – small to large – in securing asset finance and working capital. And with asset finance also impacted by tighter lending standards, having a wider range of options is crucial,” he concluded. 

Tony Farnell, business development manager with Branded Financial Services (BFS), added that the new partnership was a “good fit”, given its “vision to grow and diversify its portfolio, which has to date been exclusively servicing the franchise motor dealer market”.

“Whilst looking for a new partner and business channel to grow with, it was quickly evident Platform Finance was a good fit for our business model,” he said. 

“We were very impressed by our discussions with the Platform executive team and their willingness to grow a new partnership at a sustainable rate geared for the long term, which worked for us.

“The partnership with Platform Finance gives our business access to a diverse market and reputable network, as well as the comfort of their commitment and focus on regulatory compliance.  

“BFS looks forward to working with Platform Finance and its partners in forming long-term mutually beneficial relationships.” 

Find out more about SME finance and how you can offer your clients the right financial solutions to their business challenges at The Adviser SME Broker Bootcamp 2019.

The SME Broker Bootcamp is a fully interactive, packed day with real-world applicable outcomes.

The free event will visit Melbourne on 13 November, Brisbane on 19 November, Perth on 21 November, and Sydney on 26 November 2019.

Tickets are free, and limited, so make sure you register now to ensure you don’t miss out.

[Related: Platform Finance adds non-bank lender to panel]

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