At the European Super Angels Club, we take immense pride in witnessing the transformative partnerships of our portfolio companies. They undoubtedly shape the landscape of startup innovation. One such partnership that fills us with pride is the collaboration between Homeppl and Cubefunder. 

Homeppl x Cubefunder: Embracing Homeppl’s Fraud Finder 

In the complex realm of small business financing, Cubefunder has long been a champion. Specifically, it is offering secure and accessible business loan products to entrepreneurs striving for growth.  

However, the challenge of verifying the authenticity of business bank statements presented a formidable obstacle. For that reason, Homeppl’s Fraud Finder comes into play. The intelligent document analysis tool seamlessly integrated into Cubefunder’s processing system. This collaboration embodies the spirit of innovation and partnership that we champion at the European Super Angels Club. 

Advancing Due Diligence with Cutting-Edge Technology 

One of Cubefunder’s core requirements is the submission of three months’ worth of business bank statements from applicants. Despite advancements in personal income verification through Open Banking, assessing business financial documents remained a challenge. Furthermore, the manual due diligence process required augmentation to detect digital tampering and provide irrefutable evidence of document fraud. 

By embracing the Fraud Finder API, Cubefunder not only streamlined its loan review process but also uncovered a 21% high-risk document rate among submissions. This statistic underscores the tool’s efficacy in flagging potential fraud, safeguarding the integrity of the lending process. 

Flagging Document Fraud at Its Core 

A compelling example underscores the tool’s efficacy in action – a £30,000 loan application flagged as high risk due to manipulations in the version history of the submitted statements. Fraud Finder’s distinctive feature of highlighting edits exposed a credit reference alteration, falsely portraying it as business revenue. 

Moreover, Fraud Finder’s range extends beyond conventional fraud detection. In a case involving a Southeast-based business, their font analysis technology proved invaluable. The machine learning algorithm not only identified the document as a Starling statement but also flagged a suspicious font, exposing minute changes that betrayed the statement’s authenticity. In fact, the applicant’s attempt to inflate end-of-day account balances was debunked, thanks to Fraud Finder’s vigilant font scrutiny. 

Celebrating Success and Fostering Growth 

As one of Homeppl’s investors, we at the European Super Angels Club are thrilled to see this collaboration redefine the landscape of responsible lending. Together, these companies exemplify the innovative spirit and dedication to excellence that define our portfolio. 

We’re proud to support and celebrate partnerships like these, which empower entrepreneurs, safeguard financial integrity, and drive positive change in the startup ecosystem. The success of Homeppl unquestionably serves as a testament to the collective efforts of our network in fostering innovation and growth.