Virgin Money has partnered with Fluidly as the bank keeps building out its new corporate banking offerings for clients. The latter company joins other FinTechs such as Life Moments, Codat, Waracle, Redspire and Strands that have also teamed with the bank during the past half of a year, according to a Wednesday (March 24) announcement.
Fluidly will be geared toward building out Virgin Money’s working capital health proposition by the way of its cash flow insight and management and scenario planning technologies. Those functionalities will interface with the bank’s small-to-medium-sized-business (SMB) wellness tracker to assist clients with receiving a holistic picture of their corporate performance.
“As we move towards the launch of our working capital health proposition in the autumn, which will transform our business current account offer, the positive impact and contribution of our FinTech partners has been clear. Adding Fluidly to our team is another important step in that journey,” Gavin Opperman, group business director at Virgin Money, said in the announcement.
Fluidly offers different funding, invoice chasing and outlook tools, letting companies view all different components of cash flow in a single location. “Having the money to fund day-to-day operations is absolutely vital for business owners, especially right now,” Fluidly CEO and Founder Caroline Plumb said in the announcement.
The news comes as Virgin Money announced in February that it had brought British financial technology firm Codat onto its partner lineup as it strengthens its digital business banking qualifications.
Codat CEO Peter Lord said in a release at the time that the company’s application programming interface (API) provides “many powerful use cases that strengthen the relationship between bank and customer.”
In September, Virgin Money announced it had raised the equivalent of $44.7 million from the United Kingdom’s Capability Innovation Fund, which was made as part of the Alternative Remedies Package backed by Royal Bank of Scotland (RBS) — now NatWest — as a condition of obtaining a government bailout following the worldwide financial crisis.