Elavon will provide working capital to merchants via Liberis

Global payments company, Elavon, has partnered with Liberis, a global leader in providing integrated financing solutions, to offer financing to small and medium-sized enterprises (SMEs) in the UK.

Through this partnership, Elavon’s SMB customers will be able to apply for the Liberis Cash Advance for personalized and convenient financing based on their anticipated sales. Funding decisions can be made in as little as 24 hours for £2,500 to £300,000. Funding can be flexibly repaid at a pre-agreed rate and percentage of their monthly card transactions. This will allow fast and agile SMEs to grow and grow.

Many small businesses have started to recover from the pandemic. According to Elavon research from July 2021 with Opayo, 72% of UK small businesses saw an increase in overall revenue, up from just 46% in April 2021.

Despite this progress, many SMEs have encountered obstacles in obtaining the financing they need to grow. According to recent figures from the Federation of Small Businesses, up to 76% of small businesses also face rising operating costs, such as utility bills and fuel costs, which can be major barriers to the growth.

Rafal Golebiewski, Head of SMEs at Elavon Europe, says: “While most UK SMEs have seen their cash flow improve, many need finance to hire new staff, for renovations, to buy new stock or investments to develop their business. Our corporate finance solution with Liberis is a fantastic value-added offering for customers who need it.

Liberis CEO Rob Straathof added, “Our partnership with Elavon further strengthens our position in the global integrated corporate finance market. Our platform enables Elavon to integrate finance as a service into its ecosystem and provide small businesses with access to fair and flexible revenue financing with just a few clicks. Elavon has a large number of UK and global SMEs seeking financing outside of traditional bank loans, and we are well placed to support their growth and ambitions.

Both companies have recently gone from strength to strength. Earlier this year, Elavon launched its award-winning Transaction Risk Analytics to help e-commerce businesses reduce checkout friction and online cart abandonment while preventing fraud.

Liberis has recently expanded to Denmark. The fintech company is now active in seven countries on two continents and has provided over £500m of funding to over 18,000 businesses.

Opayo by Elavon, formerly Sage Pay, has successfully partnered with Liberis on its cash advance solution since 2018.

About Donnie R. Losey

Check Also

Working capital management market is booming globally – San Juan Independent

New research on the Working Capital Management market was conducted across a variety of industries …