Financing platform YouLend and fintech platform myPOS have partnered as much as launch a brand new service to simplify SME investing in France.
By means of the partnership, eligible myPOS shoppers will have the ability to entry revenue-based financing instantly on the platform, and can profit from a versatile compensation construction, the place retailers pays again by allocating a proportion of the funds obtained from card funds processed on myPOS.
Learn extra: Demand from SMEs for loans over £100k anticipated to ‘surge’ this yr
The funding is obtainable solely to myPOS shoppers who meet sure standards, together with being an lively myPOS service provider for 12 consecutive months. Those who qualify can safe a suggestion and obtain funding in in the future.
The roll-out in France shall be adopted by partnerships in different markets round Europe to assist SME progress in different areas, the corporations stated.
Learn extra: British Enterprise Investments: Addressing the SME funding hole
“The brand new partnership between YouLend and myPOS equips entrepreneurs with the sources they should succeed,” stated Tony Stoychev, myPOS director lending providers. “By becoming a member of forces, we’re delivering sooner, extra versatile options that allow enterprise house owners to give attention to progress reasonably than navigating advanced monetary processes.”
“By working collectively, we’re not solely simplifying the financing course of, but in addition empowering enterprise house owners to make smarter monetary selections and give attention to scaling with confidence,” added Luuk Visschedijk, head of worldwide partnerships at YouLend.
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