Shawbrook acquires fintech lender Playter

Shawbrook Group plc has announced the acquisition of Imployapp Limited, which trades as Playter, a fintech lending business providing credit lines and short-term cashflow loans to established UK SMEs.

Founded in 2021, Playter offers a digital lending platform designed to deliver rapid and consistent credit decisions. The platform uses automated workflows to analyse complex data and generate actionable insights. It is built on proprietary technology and includes “Ari”, an AI-enabled broker hub that allows commercial finance brokers to assess client credit profiles and submit applications on their behalf.

Since launch, Playter has facilitated more than £100m of lending to UK SMEs, supporting a range of funding needs including VAT payments, working capital, business expansion, training and recruitment.

Under the terms of the acquisition, Playter’s technology and team will be integrated with Shawbrook’s existing digital capabilities, distribution network and funding resources. Shawbrook said the transaction will enhance its ability to support SMEs with fast and flexible finance for both investment and working capital.

Neil Rudge, Chief Banking Officer, Commercial at Shawbrook, commented: “SMEs still turn to their advisers and brokers to find the funding they need to invest in growth, efficiency and productivity.

“But one-size-fits all funding does not work for business owners and management teams who need fast, flexible facilities that reflect their specific needs and circumstances,” said Rudge. “Playter has built a data led platform that helps brokers do exactly that, simply. Combining its talented team, proven proposition and innovative technology with Shawbrook’s existing offering is an exciting opportunity, allowing us to further build on our presence in this large and growing segment of the market.”

Jamie Beaumont, founder and chief executive of Playter, said the business was established to provide SMEs and brokers with a clearer and faster route to funding.

“Our proprietary AI platform has demonstrated that technology can materially improve how businesses access finance and how brokers support their clients,” Beaumont said. “Combining Playter’s technology with Shawbrook’s market reach, capabilities and funding resources, we are exceptionally well placed to broaden access to fast, flexible finance for UK SMEs in this important segment of the market.”