SME lender 365 finance has been honoured with a King’s Award for Enterprise for Innovation. The Camden-based company is one of just 59 businesses in the UK to be recognised with this prestigious Innovation award today (6 May).

The award has been granted in recognition of 365 finance’s innovative AI-powered automated underwriting and funding platform, Rev&U™. Developed over a two-year period, the platform significantly improves the speed and underwriting accuracy of funding for small businesses in the UK.

Rev&U™ has enabled 365 finance to grow rapidly as a business and provide essential growth funding to thousands of SMEs across the country.

365 finance Founder and Executive Vice-Chairman, Andrew Raphaely, commented, “We are thrilled to have been granted this prestigious award, which recognises the innovative approach we have taken as a fintech to get more funding to more businesses at pace.

“The award means a great deal to the whole team here, who have worked incredibly hard to develop Rev&U™ and are committed to supporting UK businesses. We look forward to celebrating this significant achievement, which comes just as we mark our 10th anniversary. It will be a real honour and a privilege to attend the Royal reception.”

The King’s Awards for Enterprise, now in its 58th year, are the most prestigious business awards in the country, with successful businesses able to use the esteemed King’s Award emblem for five years.

365 finance provides revenue-based finance of £10,000 to £400,000 to SMEs across the UK, with no hidden fees or fixed terms. Due to the exclusive automated underwriting technology at 365 finance, funding can be approved in less than 24 hours.