On Thursday we launched Nimbla in the Starling Bank Marketplace for Business. This gives Starling’s 65,000+ business account customers direct access to invoice insurance through Nimbla— all on their phone.
Challenger bank Starling was founded in 2014 and was voted Best British Bank in 2018 and 2019. Their in-app Marketplace for small businesses was created in order to provide business customers with the tools they need to set up and grow their operations. Nimbla is incredibly proud to now be part of the Starling Marketplace, allowing Starling customers to protect their business from unpaid invoices directly from within the app. Since going live, we've seen a big uptake among Starling customers and we've received excellent feedback.
Our digital insurance platform is designed to protect small and medium sized businesses against insolvent customers. The number of bankruptcies on the rise with 17,454 companies failing in 2018, and small businesses are at greater risk of not getting paid. When a Starling customer takes out invoice insurance, they will get back 90% of the invoice value if their customer doesn’t pay and goes bankrupt. Without having to worry about getting paid, business owners can focus on growing their business.
Flemming Bengtsen, CEO and Founder of Nimbla commented:
"Starling is making fantastic strides in the world of business banking and we are very excited to become part of their Marketplace. Hard-working SMEs deserve access to affordable, fast and flexible protection that will help them expand into new and existing markets, secure invoice funding and safeguard against insolvent customers."
Anne Boden, Founder and CEO of Starling Bank said:
"We are building a new kind of business bank which goes the extra mile for customers and our Marketplace partners are an essential ingredient to this. Just like Starling, Nimbla is a great example of a business that is disrupting an old industry model to create products that are relevant to the way we do business today. Nimbla is an excellent addition to our Marketplace that I’m proud to welcome into the fold."
Nimbla is now available in the Starling Marketplace to limited companies. Click here to read more about the Starling Business account and to download the app.