Pri0r1ty Intelligence Group PLC Strategic Partnership with Funding Circle

RNS Number : 4349U

Pri0r1ty Intelligence Group PLC

23 January 2025

 

23 January 2025

 

Pri0r1ty Intelligence Group PLC

("Pri0r1ty" or the "Company")

 

Pri0r1ty Intelligence Group Enters Strategic Partnership with Funding Circle to Propel Future Growth in Commercial Lending

 

Pri0r1ty Intelligence Group PLC (AIM: PR1) is pleased to announce an important partnership with Funding Circle, one of the UK's leading providers of small business loans and finance. This collaboration will significantly enhance Pri0r1ty's offering and expand its footprint within the small to medium-sized enterprise (SME) technology landscape by enabling Pri0r1ty's customers to access alternative debt financing options seamlessly via the Pri0r1ty platform. Pri0r1ty will be expanding its core offering to customers with this collaboration.

 

This strategic move allows Pri0r1ty customers to access loans of up to £750k (subject to Funding Circle's lending criteria) within minutes and with approved funds being settled typically within less than 48 hours. The Pri0r1ty Advisor large language model (LLM) will complete each application and repayment schedule autonomously providing a frictionless funding option to almost all small businesses customers. Pri0r1ty will be paid an introducer commission of up to 6.5% on all loans made to customers. 

 

The partnership with Funding Circle aligns with Pri0r1ty's commitment to delivering cutting-edge solutions that simplify the growth process for businesses at an affordable price point through a single and accessible platform. Through this alliance, Pri0r1ty aims to leverage the extensive market experience that Funding Circle has built in lending over £15bn to UK SME's in recent years and in a market worth approx. £200bn in the UK in 2024.

 

Pri0r1ty will be offering this solution to active customers on its platform as well as new users, ensuring a seamless transition and technological integration. This further strengthens Pri0r1ty's position in the competitive landscape of Growth-as-a-Service (GaaS) and enables the Company to tap into new market opportunities and deliver greater returns for Shareholders.

 

 

James Sheehan, CEO of Pri0r1ty, commented:

 

"We are thrilled to forge this partnership with Funding Circle. This collaboration opens up exciting opportunities for us and propels our mission to redefine how small businesses grow. Together, we are committed to providing businesses with faster and more accessible growth solutions that meet their evolving needs. We believe this partnership is just the beginning of a series of strategic initiatives that will drive our future growth. We're excited to integrate new services on the platform that add value to our customers and drive revenue beyond our Software-as-a-Service (SaaS) subscription model."

 

If you would like to explore how Pri0r1ty AI can help drive time and cost efficiency for your business please contact [e-mail]

 

 

For further information, please contact: 

 

Pri0r1ty Intelligence Group PLC

James Sheehan, Chief Executive Officer 

Email: [e-mail]

 

Nominated Adviser (NOMAD)

Beaumont Cornish Limited 

James Biddle/ Roland Cornish 

Email: [e-mail] 

Tel: [phone] 

 

Broker

Allenby Capital Limited

Kelly Gardiner/ Jeremy Porter/ Piers Shimwell

Tel: [phone]

 

Financial PR Adviser

Camarco

Marc Cohen, Gabriel Hedengren, Emily Hall

Email: [e-mail]

Tel: [phone]

 

 

About Pri0r1ty Intelligence Group PLC

One of the few companies to list on AIM last year, Pri0r1ty Intelligence Group is an AI company transforming professional growth services for SMEs. As an SME, Pri0r1ty understands the unique challenges faced by smaller businesses and has developed an AI Software-as-a-Service (SaaS) platform tailored to meet these needs. Pri0r1ty's platform offers cost-effective solutions that automate essential services like social media management, investor relations, and corporate governance. By reducing reliance on expensive external providers, the company empowers SMEs to streamline operations and focus on growth.

 

Nominated Adviser Statement

 

Beaumont Cornish Limited ("Beaumont Cornish"), is the Company's Nominated Adviser and is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in the announcement or any matter referred to in it.

 

 

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