Business insurance

Cashplus launches £ 5 / month business insurance for SMEs

Digital bank

Launched through a partnership with insurtech Superscript.

Image source: Rich Wagner / CEO of Cashplus.

The business challenger bank Cashplus is expanding its offer to include insurance for SMEs through a partnership with British insurtech Superscript.

The launch is also an expansion of the market for Cashplus third-party services, including Sage Accounting, Wix website building, and Square payments.

Superscripts flexible insurance products are billed monthly from just £ 5 / month, with companies having the flexibility to make adjustments as needed.

“Small businesses are changing rapidly and there is a growing need for fast and easy online services that can be set up in an instant,” said Henry Newby, Director of Partnerships at Superscript.

“Superscript and Cashplus both recognize this, developing proprietary technology to help SMBs make better, simpler decisions. “

Cashplus is relatively new to the challenger banking scene, having obtained its banking license just under 12 months ago.

Today it claims to serve over 150,000 UK SMEs, representing 7 percent of all new businesses created.

In October 2021, Cashplus received £ 5million from the BCR’s Pool F, which it pledged to use to lend an additional £ 5 billion to UK SMEs over the next four years.

Before Christmas, the fintech launched its Business Creditbuilder, which restructures its clients’ account fees into a zero-interest loan that helps them improve their credit scores.

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