announcements
23/11/2023
myPOS partners with Liberis to launch business financing in 10 countries
announcements / 10.09.2024To open new growth avenues for the small business, myPOS is beginning to provide fast and flexible funding to eligible merchants. In tandem with the leading embedded finance platform Liberis, myPOS will be offering revenue-based financing to business owners in 10 European countries. The service is first rolling out in the United Kingdom.
myPOS CEO Mario Shiliashki commented: “Our mission at myPOS is to help businesses grow. Our payments platform provides a large number of payment methods to boost checkout conversion and we offer our merchants instant access to their funds as soon as a purchase is completed. Now, with Liberis, we will take this one step further by providing borrowing options to merchants, thus helping them further boost growth with the capital they need to succeed.”
Access to capital is often the reason why a small business fails or succeeds, which is why myPOS is adding the new service, staying true to its mission to offer SMEs a lending hand.
Comprehensive business platform with revenue-based financing
“This partnership empowers myPOS to create an even more comprehensive one-stop shop for SMEs by including revenue-based financing to help them grow their business, fuelled by Liberis’ technology,” said Rob Straathof, CEO at Liberis.
The revenue-based financing functionality will soon be available to myPOS clients meeting certain criteria; for example, being an active myPOS merchant for 12 consecutive months. Business owners will know if they have been preapproved for a certain amount after receiving a notification to visit their myPOS profile.
After the UK rollout, the plan is to extend the new service to the Czech Republic, Denmark, Finland, Germany, Ireland, Iceland, Poland, Sweden and Slovakia.
Unique funding solution with automatic repayments
Revenue-based financing is a unique funding solution designed to help businesses grow by providing access to their future card sales. This means that the repayment happens automatically through each settled transaction on the myPOS platform. Each merchant decides what percentage of the future turnover will be repaying the funded amount.
Applying is easy – everything happens on the myPOS platform without extensive paperwork. An offer is usually received on the same or the following day, which is important for merchants in need of urgent financial help. In addition, the offers received are valid for a month, thus offering business owners ease of mind and flexibility.
Liberis: technology platform for accessible funding
Founded in 2007, Liberis is a global embedded finance platform providing its partners with the technology platform and financial solutions to offer accessible funding. With over 20 global strategic partners and direct reach to more than 1 million small businesses, Liberis has provided over $1bn of funding in over 60,000 transactions, enabling more than 100,000 jobs to be created and saved.
