Simply Asset Finance

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.

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

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

• SME asset finance
• Equipment financing
• Hire purchase
• Finance leasing
• Business lending

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Interest Income: Primary revenue from interest charged on loans and financing arrangements for equipment, vehicles, and business assets.
2. Financing Fees: Fee revenue from arrangement fees and documentation charges on financing products including hire purchase and finance leasing.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core 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

Named customers6 records

Segments9 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability6 records

Feature7 records

Partnerships

Three partnerships are on record, tiered core and minor.

• LendscapecoreTechnology or IntegrationTechnology partnership providing contract management and asset finance platform capabilities for the Simply Connect digital lending ecosystem.
• Enduro FinanceminorChannel Partner/ Reseller/ DistributorBroker referral partner distributing Simply's financing products to SME customers through Enduro Finance's broker network.
• OnPoint FinanceminorChannel Partner/ Reseller/ DistributorBroker 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

Direct 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

• Xx.com/simplyasset
• LinkedInlinkedin.com/company/simply-asset-finance

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds5 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Simply Asset Finance