At multifi, we’re committed to making your financial journey as smooth as possible. Our comprehensive support hub is here to guide you through every step of using our platform. Whether you’re new to multifi or a seasoned user, you’ll find answers to your questions in our FAQ section, and assistance to help you make the most of our services.
multifi is a fast, flexible source of business finance for all UK companies. We support everything from retailers and restaurants to manufacturers and professional service firms. Businesses use multifi to bridge short-term cashflow gaps, invest in new opportunities, and more.
Typical customers are growing businesses with an annual turnover between £50,000 and £5,000,000.
We welcome a wide range of established small and medium enterprises. As a minimum requirement, you must have a UK-based business, trading for over one year, with an annual turnover of over £50k.
Unlike other funding providers, our fees are fixed and no costs are hidden. Also, unlike other providers, we are completely unsecured, and we will never ask for a Personal Guarantee. Our credit assessment process is designed to allow us to make informed credit decisions quickly. Compared to traditional banks and loans offer a simple process from application to service completely removing the complexities of business finance.
multifi was founded in 2022 by finance experts seeking to transform small business lending. We spent time understanding the pain points small and medium-sized businesses face when accessing finance. As a result, we have designed products and technology we believe will make a difference. In short, we are here to help UK businesses access fast, fair funding to reach their potential.
Our team is based in central London near Farringdon.
Our advisors are always happy to help. Please email support@multifi.co.uk for more information.
Yes, we are committed to ethical and responsible lending. We are partners of the British Chamber of Commerce, and the Federation of Small Businesses and our credit and business account providers are registered and regulated by the Financial Conduct Authority.
Eligible businesses can access up to £350,000. Your credit limit is based on factors like revenues and cashflow. For smaller businesses, credit limits range from £5,000 to £40,000 with a 0.5% monthly platform fee and 2.49% interest on used funds every 30 days. Larger businesses can access limits from £5,000 to £350,000 with a 0.3% platform fee and 1.99% interest on used funds every 30 days.
Businesses have 120 days to repay all used credit. Monthly platform fees (0.3 – 0.5% of your credit limit) and interest (1.99% – 2.49% per 30 days on used credit) are deducted from your multifi Current Account on the 8th of each month.
Apply without obligation. Our indicative credit checks take less than one minute to complete and will not impact your credit rating allowing you to apply with confidence. You only commit once you have reviewed and signed your contract.
Our facilities are unsecured with no business asset or collateral required. We provide customers with a basic Current Account through which they are required to route all revenue, such as direct payments from their customers, Card Payment Receipts, and Drawdowns from Invoice Finance or Merchant Cash Advance providers .100% of funds are available instantly, 24/7. By channelling revenues through this account, we efficiently collect fees, interest, and capital as they become due. We provide funding on an unsecured basis, and unlike other finance providers, we never ask for a Personal Guarantee. Instead, a director must sign a standard indemnity letter ensuring revenues will continue to be channelled through their multifi Current Account.
We believe in transparency. There is no sign-up fee. For higher credit limits (up to £350,000), the costs are a monthly fee of 0.3% of your credit limit, and a 1.99% interest on used credit per 30 days. For smaller credit limits (up to £40,000), the costs are a monthly fee of 0.5% of your credit limit, and a 2.49% interest on used credit per 30 days. There are no hidden fees and no charges for early repayment.
Yes. There is no sign-up fee. For higher credit limits (up to £250,000), the costs are a monthly fee of 0.3% of your credit limit, and a 1.99% interest on used credit per 30 days. For smaller credit limits (up to £40,000), the costs are a monthly fee of 0.5% of your credit limit, and a 2.49% interest on used credit per 30 days. There are no hidden fees and no charges for early repayment.
Check your indicative limit online here to see what credit may be available for your business. If eligible, you will receive an email to submit more information and apply.
We analyse your business activity via read-only Open-Banking access. This provides a detailed picture of your business performance without paperwork. Where possible, you must connect all company accounts for read-only access via Open Banking.
The typical calculation for credit limits is 15% of business turnover in the last 12 months turnover. Further factors to this calculation include:
You can check your indicative limit instantly online here. If eligible, you will receive an email to submit more information and apply. Once you have applied, our credit and due diligence checks typically take 72 hours. Once approved and your contract has been signed, you can access funds directly in the multifi platform 24/7.
Our customers are typically businesses looking to generate cashflow and grow.
For smaller credit limits (£5,000 – £40,000):
For higher credit limits (£40,000 – £250,000):
The business must not trade in a prohibitive industry (see ‘Are there any industries or companies you do not cover’ for more information).
Further factors to this calculation include:
Yes, under our Customer Due Diligence and Anti Money Laundering Policy, there are some industries to which we are prohibited from offering credit.
These areas include:
1 | Bail and bond payments. |
2 | Wood pulp (upstream and downstream) |
3 | Mining |
4 | Oil sands |
5 | Palm sands |
6 | Nuclear power and nuclear fuel cycle |
7 | Providing illegal access to numerical data, or allowing downloading of it. |
8 | R&D or technical applications intending to support the business. |
9 | Production and trade of weapons and ammunitions. |
10 | Pornography |
11 | Cash only businesses – E.G. tanning shops, sauna parlours |
12 | Night clubs |
13 | Gambling |
14 | Construction and sub-contracting |
15 | General Construction |
16 | Property development |
17 | Property Investment. |
18 | Crude oil drilling and exploration (fossil fuels drilling and exploration). |
19 | Trading and or production of products that contain CBD (oil). |
20 | Coal fire power generation. |
Further factors to this calculation include:
multifi complements existing Invoice Finance agreements. Update your bank details with your provider to receive drawdowns into your new multifi Current Account.
Your multifi Current Account functions as a basic current account, allowing you to send payments, withdraw and deposit money, and includes an assigned bank account and sort code.
The typical calculation for credit limits is 15% of business turnover in the last 12 months turnover. Further factors to this calculation include:
An automatic sweep from your Current Account to your nominated business account occurs daily at the close of business, adjusting for due fees. You can withdraw funds anytime. The sweep is enabled by default but can be disabled in your account settings.
A director signs an indemnity letter confirming all revenues will be paid into the Current Account as agreed. Adhering to these terms ensures no personal liability, even in case of a default. Unlike other providers, we will never ask for a Personal Guarantee.
Once a credit limit has been offered, the business has 14 days to decide. After that the business would have to reapply.
Click ‘Payees’ in the top menu to add a new payee to your multifi account. In the first step, you should add the name and address of the person or business you want to add to your payee list and then click submit. In the second step, you should add the bank account information of the person or business you want to add to your payee list and click submit.
We aim to verify new payees within 24 hours, after which you can make payments to your suppliers, which are usually processed on the same day.
Click ‘Payees’ in the top menu. In the sub-menu below, click ‘Manage Payees’. This section allows you to view the status of your payees. Once a payee has been approved you can edit their details.
Make a new payment by clicking ‘Payment’ in the top menu. Choose who you want to send money to from the dropdown list of existing payees*. Fill in the required payment details and click ‘submit.’ Payments are typically sent and received on the same day.
*Before using your multifi account to make any payments, you must add the business or person you want to send money to as a payee. See ‘How do I set up a payee’ for more information.
Click ‘Payment’ in the top menu to view your payment history. From this window you can view recent payments, search for specific payments and view Credit Account Transactions.
Add a new user to your account by clicking ‘Admin’ in the top menu. Here you can submit the details of colleagues, giving them access to your multifi account.
Change your password by clicking the circular avatar at the top right of your multifi account screen. Here you can change your password, update your security word and edit your account details.
Update your details by clicking the circular avatar at the top right of your multifi account screen. Here, you can edit your account details, change your password, and update your security word.
Payments will appear in your recipients’ bank account as RCH Capital and you can edit the reference to include your company name.
To send an overseas payment, you must first add them as a new payee and include their registered country address and international bank details.
Once the payee has been registered on your account, you can send money to their account by clicking the ‘Payees’ tab in the top menu and clicking ‘FX Payment’.
Modulr provide the embedded payment solution behind our Current accounts and Credit accounts.
Modulr works in the same way as any other payment account, customers can make inbound and outbound payments.
Modulr uses a range of clearing banks for different services and with direct access to Faster Payments and Bacs. Modulr is one of a few non-bank Payment Service Providers to hold funds associated with GBP domestic flows directly at the Bank of England.
Click here for more information on Modulr.
Modulr FS Ltd (FRN: 900573) is licensed as an authorised E-Money Institution (EMI) and regulated by the Financial Conduct Authority (FCA).
This enables Modulr to issue electronic money (e-money) to its customers, hold customer funds in safeguarded e-money accounts and provide related payment services to customers.
In line with Modulr’s regulatory requirements, customers’ GBP funds related to the e-money that Modulr has issued are segregated from Modulr’s own funds and, unless otherwise specified, safeguarded in a Bank of England account. As such, e-money in Modulr accounts is protected from any risk connected with Modulr’s solvency.
In line with the Electronic Money Regulations, Modulr FS holds additional “own funds” to the value of 2% of the safeguarded balance. Modulr has a responsibility to notify the FCA should the “own funds” fall below the 2% mark. The “own funds” requirement and safeguarding requirement mean customer funds are 100% available to a customer, and there is a protection mechanism to help ensure an orderly wind-down of an EMI if required.
While the Financial Services Compensation Scheme (FSCS) is not applicable in relation to e-money products, the regulatory regime outlined above can be relied upon and protects the full balance of customer funds, as opposed to protecting up to a cap (as under the FSCS). With regards to money laundering and the Proceeds of Crime Act, Modulr has the same obligations as other payment service providers and banks
Higher credit limits (up to £350,000) are subject to a monthly fee of 0.3% of your credit limit, and 1.99% interest on used credit per 30 days applies.
Smaller credit limits (up to £40,000) are subject to a monthly fee of 0.5% of your credit limit, and 2.49% interest on used credit per 30 days applies.
Interest is payable only on used credit.
Used credit must be repaid before the 120 limit. The payment will be taken from your multifi Current Account. To ensure necessary funds are available, you may need to transfer relevant funds into a multifi Credit Account before the payment is due.
Monthly platform fees (0.3 – 0.5% of your credit limit) and interest (1.99% – 2.49% per 30 days on used credit) are deducted from your multifi Current Account on the 8th of each month.
Once credit and associated fees are repaid, you can reuse the total of your credit limit as needed.
Any credit used up to your limit must be repaid within 120 days. You can make a repayment any time before the 120-day term elapses. Your credit limit can be used in part or in its entirety.
Monthly platform fees (0.3 – 0.5% of your credit limit) and interest (1.99% – 2.49% per 30 days on used credit) are deducted from your multifi Current Account on the 8th of each month.
Once credit and associated fees are repaid, you can reuse the total of your credit limit as needed.
You can repay used credit anytime within 120 days without incurring any early repayment penalty charges.
You only get charged the monthly platform fee (0.3% – 0.5%) and interest (1.99% – 2.49%) for the period you used the credit for.
Contact support@multifi.co.uk immediately if you anticipate difficulty with repayments. We’ll try to assist you in getting back on track. Missed payments may impact future eligibility.
Payments initiated from your multifi Credit Account will be reflected on your payee’s bank account statements with the descriptor “RCH Capital” and the reference will be “multifi’.
You can change the reference when making payments from your credit account.
Yes, we conduct credit checks during the application process to enable us to make responsible lending decisions. These credit checks should not impact your ability to obtain credit elsewhere.
Our systems only access historical banking data via read-only Open Banking to assess eligibility. Passwords and data are never seen by humans and are treated with the utmost care.
Learn more about Open Banking here. Where possible, you must connect all company accounts for read-only access via Open Banking.
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