GRID Finance

GRID Finance is an Irish financial technology company established to address the funding gap for the nation's small and medium-sized enterprises (SMEs). Founded in 2014 by Derek Foley Butler, the company has evolved significantly since its inception. Butler, a PwC-trained chartered accountant, drew inspiration from his work in micro-lending with the NGO GOAL in Uganda and Haiti. This experience, combined with his background at firms like Goodbody Stockbrokers and Ernst and Young, shaped his vision for a more accessible financial system for small businesses in Ireland.

Initially launched as a peer-to-peer (P2P) lending platform connecting businesses with community investors, GRID Finance pivoted its business model in 2017-2019. The company now operates primarily as a cash-advance lender, focusing on providing short-to-medium term working capital to Irish SMEs. This strategic shift moved the company away from crowdfunding to a direct lending model, securing significant funding lines from institutional partners like Fasanara Capital and Thiele Capital Management to fuel its lending capacity. The company serves a broad range of B2C and B2B businesses across various sectors in Ireland, having supported over 3,000 SMEs and funded more than €139 million.

GRID Finance generates revenue through the provision of flexible loans, charging interest rates and arrangement fees. Its core offering is a form of merchant card financing where repayments are dynamically adjusted based on the borrower's daily card sales revenue. This “pay-as-you-earn” principle allows businesses to make smaller repayments during slower periods, reducing financial stress and aligning with cash flow realities. The company offers loans up to €500,000 for both B2C and B2B clients, with repayment schedules designed to be flexible. In addition to working capital loans, GRID provides equipment leasing options and a financial insights tool that gives businesses a real-time credit score to aid in better planning. Through its non-profit arm, the GRID Foundation, the company engages in research, advocacy for SMEs, and hosts events like The National Fintech Awards, underscoring its commitment to building a healthier financial ecosystem in Ireland.

Keywords: SME lending Ireland, business finance, fintech, merchant cash advance, working capital loans, Derek Foley Butler, flexible business loans, B2B finance, B2C finance, equipment leasing, business credit score, alternative lending, Irish fintech, revenue-based financing, small business funding, cash flow solutions, direct lending, asset finance, corporate social responsibility, B-Corp