The fintech’s proprietary platform, embedded at the point-of-sale with more than 75 equipment vendors across the UK, enables equipment vendors and their customers to organise fast, automated asset finance for equipment purchases of up to £250,000. This, Equipal says, accelerates and streamlines what has traditionally been a slow, intensive, email-heavy process.
Equipal says it has seen a default rate of 1.26% and zero credit losses to date, while 69% of customers who have sourced funding once through the platform have returned for additional finance. The system has been used by crane companies, industrial equipment suppliers, and others.
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