About Growth Street
Growth Street is an alternative finance provider for UK SMEs. Established in 2014, Growth Street operates a flexible marketplace that has matched over a hundred million pounds of investors’ money to small and medium-sized businesses.
Out-of-date contributed data
Growth street needed up-to-date accounting data from their small business customers in order to properly assess exactly how much credit they can offer.
On-going risk assessment for revolving credit facility
Growth street needed to be able to flag key indicators early like increasing creditor pressure or concentration risk which would not show up in open banking data.
Time consuming in-house build
Growth Street understood the importance of accounting integrations in order to solve this problem - however, building and maintaining integrations was taking up a huge amount of developer time/resource.
Accurate up-to-date data
Access to live data means that Growth Street are able to make faster and more accurate lending decisions.
Live data allows Growth Street to monitor the health of their small businesses on an ongoing basis. Allowing them to spot any red flags early on.
A single API
Rather than spend time trying to build individual integrations to the different accounting platforms their customers' used - Codat allowed them to connect via a single API, built, maintained and managed by Codat.
“We knew that integrations with accounting software were vital in our route to becoming a leading modern alternative finance provider to SMEs. Partnering with Codat has delivered huge value on that front, and been key in building a slick, automated finance product for small and medium-sized businesses across the UK.”
Head of Product