Simply Asset Finance
Simply Asset Finance is a UK FCA-authorised specialist lender providing hire purchase, finance leasing, and asset equity release to SMEs, delivered via its Simply Connect digital lending platform and Kara AI assistant across nine equipment-backed verticals.
- Company typePrivate
- Founded2017
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Simply Asset Finance does
Simply Asset Finance Operations Limited, trading as Simply, is a UK FCA-authorised specialist asset finance lender founded in April 2017 and headquartered in London, with additional offices in Belfast, Glasgow, and Liverpool. The company provides hire purchase, finance leasing, and asset equity release to UK SMEs with turnover up to £45m, alongside participation in the British Business Bank's Growth Guarantee Scheme and predecessor Recovery Loan Scheme. Loan sizes range from £5,000 to £10 million, with the loan book spanning equipment, vehicles, and machinery across verticals including agriculture, construction, transportation, manufacturing, materials handling, print and packaging, recycling, and bus and coach.
The business is operated through Simply Connect, an end-to-end cloud-based digital lending platform integrating credit reference data (Experian, Equifax), open banking, automated KYC, electronic documentation with e-signature, and contract management via Lendscape. The platform is extended by Kara, an AI-powered virtual business assistant launched in July 2025 that automates proposal loading, document extraction, credit reviews, and due-diligence workflows, drawing on data accumulated across more than 50,000 credit applications. Distribution combines regional field sales teams, an in-house inside sales function, the Simply Connect broker portal (with partners including Enduro Finance, OnPoint Finance, and PLB Asset Finance), dealer and supplier referral relationships, and a digital self-service channel.
Revenue is generated primarily from interest income on originated loans plus arrangement and documentation fees, with pricing structured transactionally per facility. The company is majority-owned by Cabot Square Capital and has assembled a diversified wholesale funding stack exceeding £475m in committed facilities from British Business Bank, Bank of America, Citi, Aldermore, and Lombard/NatWest. FY2024 revenue was £60.4m with £8.5m pre-tax profit on a £543m gross loan book, following cumulative originations of more than £2 billion to over 13,000 SME customers.
Simply Asset Finance firmographics
Firmographics- Name
- Simply Asset Finance
- Legal name
- Simply Asset Finance Operations Limited
- Website
- https://www.simply.finance/
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Simply Asset Finance is a UK FCA-authorised specialist lender providing hire purchase, finance leasing, and asset equity release to SMEs, delivered via its Simply Connect digital lending platform and Kara AI assistant across nine equipment-backed verticals.
- Ownership category
- akta.pro rank
Simply Asset Finance industry classification
Industry- Product category
- Asset Finance
- NAICS
- Sales Financing (52222), Credit Intermediation and Related Activities (522)
- SIC
- Finance Lessors (6172), Short-Term Business Credit Institutions (6153), Asset-Backed Securities (6189)
- akta.pro primary industry
- Equipment & Asset Finance (SME) (FSAKAGAF)
- akta.pro secondary industries
- Equipment & Asset Finance Brokerage (FSAEAEAJ), Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit) (BPAHAOAD)
Keywords
Where Simply Asset Finance is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
Simply Asset Finance business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Others
Revenue model
- Interest Income: Primary revenue from interest charged on loans and financing arrangements for equipment, vehicles, and business assets.
- Financing Fees: Fee revenue from arrangement fees and documentation charges on financing products including hire purchase and finance leasing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Multi-year contract | SME Equipment Finance - £5,000 to £10,000,000 |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels7 records
Simply Asset Finance product offering
Product offeringCore offering
Simply Asset Finance provides specialist asset finance products to UK small and medium-sized enterprises, offering hire purchase, finance leasing, and asset equity release solutions for equipment, vehicles, and business assets. The company delivers its lending through Simply Connect, an end-to-end digital lending platform that automates credit assessment, KYC verification, electronic documentation, and broker/customer interactions, supplemented by access to government-backed schemes such as the Growth Guarantee Scheme and Recovery Loan Scheme.
Product overview
Simply Asset Finance operates as a specialist SME asset finance provider offering a unified product portfolio centered on flexible lending solutions. The core offerings include three main finance products: Hire Purchase, Finance Leasing, and Asset Equity Release. These are delivered through Simply Connect, the company's end-to-end digital lending platform that integrates portals for application submission, automated credit and asset data processing, KYC verification, electronic documentation, e-signature, and open banking capabilities. Simply Connect is complemented by a dedicated broker portal and customer mobile app. The platform is further enhanced by Kara, an AI-powered business assistant module that automates proposal loading, document processing, and due-diligence workflows. Simply also participates in government-backed loan schemes including the Growth Guarantee Scheme and Recovery Loan Scheme, providing up to £2m facilities with 70% government guarantees.
Differentiator
Problem solved
Functional benefit
Brands
- Simply Connect: End-to-end digital platform allowing customers and brokers to manage funding from application through to final payment, featuring automated processes, e-signature, and integrated data sources.
- Kara
Products and services
- Hire Purchase
Quantifiable outcome
- Funding decisions in under 8 minutes
- +3 more outcomes
Companies that use Simply Asset Finance
Customer profileNamed customers6 records
Segments9 records
Ideal customer profiles3 records
Simply Asset Finance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
AI capability6 records
Feature7 records
Simply Asset Finance partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- LendscapecoreTechnology partnership providing contract management and asset finance platform capabilities for the Simply Connect digital lending ecosystem.
- Enduro FinanceminorBroker referral partner distributing Simply's financing products to SME customers through Enduro Finance's broker network.
- OnPoint FinanceminorBroker referral partner distributing Simply's financing products to SME customers through OnPoint Finance's intermediary network.
Scale indicators13 records
Recent moves14 records
Expansion highlights6 records
Simply Asset Finance competitors and assessment
Company assessmentDirect peers
- Bibby Financial Services: UK-headquartered specialist SME finance provider offering invoice finance, asset finance, and commercial loans. Direct competitor to Simply in the UK SME equipment/asset finance market with comparable customer profile and broker-led distribution.
- Close Brothers Asset Finance: UK specialist asset finance division of Close Brothers Group providing HP, leasing, and refinancing to SMEs across multiple asset classes including transport, construction, and manufacturing. Directly comparable product set and target customers.
- Aldermore Bank: UK challenger bank with a substantial asset finance and SME lending franchise; also a wholesale funder to Simply via a £20m block discounting facility. Direct competitor for SME equipment finance customers and a benchmark for the sub-segment Simply operates in.
- Paragon Bank: UK specialist bank with significant asset finance and commercial lending operations focused on SMEs and professionals. Comparable target customer base, product mix (HP/leasing), and broker-distribution model.
- Funding Circle: UK-listed fintech providing SME loans including asset-backed and working capital finance via a digital platform and broker network. Directly comparable technology-led SME lending model with broker-led distribution.
Emerging players
- iwoca: UK fintech lender to SMEs providing flexible credit lines and term loans via a digital platform with broker partnerships. Overlaps with Simply's SME customer base but focused more on working capital than equipment finance.
- Tide: UK SME business current account and embedded lending platform. Competes for the same SME customer segment with technology-led offerings and embedded finance partnerships, though less focused on equipment finance today.
Broad incumbents
- OakNorth Bank: UK specialist commercial bank providing lending to SMEs and lower-mid-market businesses using proprietary credit decisioning technology. Larger scale than Simply but operates in the same UK SME lending space with comparable technology orientation.
- Lloyds Banking Group Commercial: UK's largest commercial bank providing asset finance, hire purchase, and business loans to SMEs through both direct and broker channels. Sets the incumbent benchmark Simply competes against on scale, brand, and distribution.
Others
- British Business Bank: UK government-owned development bank providing wholesale funding, guarantees, and capital to smaller business lenders including Simply itself. Not a competitor but a critical capital partner whose scheme design and funding terms shape Simply's growth economics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Simply Asset Finance social profiles
Digital presenceSimply Asset Finance compliance and trust
Trust signalCompliance4 records
Simply Asset Finance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Simply Asset Finance leadership team
Management profileNumber of profiles
Profiles6 records
Simply Asset Finance funding detail
Funding detailFunding overview
Funding rounds5 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Simply Asset Finance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Simply Asset Finance
What does Simply Asset Finance do?
Simply Asset Finance provides specialist asset finance products to UK small and medium-sized enterprises, offering hire purchase, finance leasing, and asset equity release solutions for equipment, vehicles, and business assets. The company delivers its lending through Simply Connect, an end-to-end digital lending platform that automates credit assessment, KYC verification, electronic documentation, and broker/customer interactions, supplemented by access to government-backed schemes such as the Growth Guarantee Scheme and Recovery Loan Scheme.
Is Simply Asset Finance a public or private company?
Simply Asset Finance is a private company. It is classified as private equity controlled and is currently operating.
When was Simply Asset Finance founded?
Simply Asset Finance was founded in 2017. It employs 1 to 10 people.
Where is Simply Asset Finance based?
Simply Asset Finance is headquartered in London, United Kingdom, in the Europe region.
How does Simply Asset Finance make money?
Two revenue lines are on record. Interest Income is the primary driver. The others are financing Fees.
Who are Simply Asset Finance's main competitors?
Direct peers on record are Bibby Financial Services, Close Brothers Asset Finance, Aldermore Bank, Paragon Bank and Funding Circle. Emerging players are iwoca and Tide. Broad incumbents are OakNorth Bank and Lloyds Banking Group Commercial. British Business Bank is listed as an others.
Does Simply Asset Finance have an API?
No public API is recorded for Simply Asset Finance.
What industry is Simply Asset Finance in?
Simply Asset Finance's product category is Asset Finance. Its primary akta.pro industry code is FSAKAGAF, Equipment & Asset Finance (SME), with a secondary code of FSAEAEAJ, Equipment & Asset Finance Brokerage. Its NAICS code is 52222 and its SIC code is 6172.