The partnership will look to identify opportunities for reducing business costs in energy, banking and foreign exchange areas, among others.
It will provide businesses with an array of funding opportunities such as grants, loans and equity investments. Trusted advisors will also have access to the tools and resources to guide their clients effectively through their funding journeys.
Businesses can identify more accurate funding opportunities, streamline the funding process and produce business savings through the integration of Sage’s accounting software, according to the company.
Research conducted by the Sage Foundation showed that a lack of financial resources remains one of the most “significant obstacles” businesses face. In this partnership, Swoop and Sage hope to simplify the process of accessing crucial funding for businesses and their advisors.
Black female founders in Atlanta, Georgia, US are among the first to benefit from the partnership with both companies involving themselves in the BOSS Network. It follows a Sage report, which highlighted systemic barriers preventing access to capital and resources essential for achieving sustainable growth.
Chip Mahan, global commercial head, fintech, payments and banking at Sage, said: “In a world full of fluctuations, with inflation and interest rates on the rise, businesses are facing unprecedented challenges, so it is important to make business finance more accessible and less daunting. This partnership with Swoop aligns perfectly with our mission and will make accessing essential financial capital quick and easy, ensuring businesses have the support they need to succeed.”
Andrea Reynolds, CEO of Swoop, said: “We are thrilled to partner with Sage to bring our funding expertise to businesses and advisors worldwide. Together, we will simplify the path to financial empowerment for businesses of all sizes.”