equipal

equipal is an asset ﬁnance marketplace hosting equipment vendors and funders that offer small businesses access to lease ﬁnance.

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equipal, is a funder for SMEs seeking to finance heavy equipment and machinery. We develop and host our own tech to drive a fully digital, automated finance process for Vendors and Customers. From first contact to final contract, the flow of finance is automated and embedded on our online platform. SMEs have their own account, with full visibility and real-time notifications, on the progress of finance requests. The equipment Vendor is hosted on the platform to ensure a fully integrated process, and counterparties benefit from digital execution on all documentation.

equipal, previously Equipment Connect, soft-launched in 2019 with a pilot group of Vendors, keen to benefit from the agile, Point-of-Sale financing solution. The platform transacted its first deal almost immediately. Since then, more Vendors have onboarded, and the platform has found particularly strong traction in the manufacturing space and has been well-received by advisors such as accountants and business advisors.

equipal aims to become the dominant all-in-one, digital platform solution for equipment-related financial services.

Eamonn McMahon - CEO

Q and A with Eamonn McMahon, CEO of equipal

What inspired you to go away and solve the problem you are addressing?

My background is in capital markets, an arena that benefits from great technology and pricing efficiency. After spending some time assisting banks with wholesale asset finance, I was shocked to learn how slow and overly-intermediated SME leasing was. So I decided to apply a capital markets mindset and improve SME leasing with innovative technology to enable new funders to access the market while at the same time digitising a paper process to ensure a faster, more convenient experience for SME directors.

What tips would you give an aspiring entrepreneur?

Stay focused on the core problem you are solving, be proactive at building your network and embrace the uncertainty!

What's the hardest part of being a founder?

It can be difficult to switch off. You are in the driving seat of a sports car that you engineered.

If you weren't building your startup, what would you be doing?

I guess I would be back in my old world, covering hedge funds and other financial institutions for asset-backed finance.

What gets you out of bed in the morning?

A sharp knee to the rib cage courtesy of my forever adoring wife. That and the fact I need a strong coffee before the team's daily stand up at 8.45 am.