Specialist business lending provider Simply Asset Finance has successfully launched Lendscape’s Asset Finance platform.

In a statement, the two companies announced that the transition to Lendscape’s fully cloud-native, open API system will enhance Simply Asset Finance’s back-office operations, making them more connected and efficient.

The upgrade supports Simply Asset Finance’s rapid growth and adaptability to dynamic market conditions. In fiscal year 2023, Simply Asset Finance achieved profits of £5.5 million and revenues exceeding £52 million. The company has also expanded its loan origination to a total of £1.3 billion.

In March 2024, Simply was recognised as one of the FT1000 Europe’s Fastest Growing Companies, with a compound annual growth rate of 38%.

Ylva Oertengren, COO of Simply Asset Finance, highlighted the company’s commitment to industry transformation and exceptional customer service. “This technology is also a springboard for innovation, enabling easy integration with other providers, diversification of business channels, and the swift introduction of new and innovative products for current and future customers. Everything that comes next will be built on this foundation,” she said.

Oertengren also praised the precision of the Lendscape platform, stating, “We reconciled the numbers, and it’s penny-perfect.”

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The migration of Simply Asset Finance’s £0.5 billion book to the Lendscape platform was executed seamlessly, with no service interruption. Users were able to engage with the new system from day one without any issues. “Our customers are our first priority, and maintaining continuity throughout this process was essential,” Oertengren added. “I’m delighted to say that the migration was achieved with zero business disruption.”

Steve Taplin, Managing Director at Lendscape, said: “This is a significant step on an exciting journey and a testament to our collaborative partnership. Simply’s incredible team worked closely with our experts to build a platform that paves the way for future growth and innovation.”