Following this announcement, the product was developed in order to unlock new deals and optimised cash flow for Software-as-s-Service (SaaS) vendors, while saving small and medium-sized businesses (SMBs) a significant amount of money and resources on SaaS spending.
In addition, both financial institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
Throughout this launch, the product is expected to enable SaaS companies to be paid up-front for their annual or multi-year subscriptions to their SaaS solutions, while their SMB customers will have the possibility to maintain achievable monthly repayments at a cheaper rate than these annual contracts bring. At the same time, by partnering with Shawbrook Bank, Lemon will benefit from the financial institution’s resources and lending capabilities, while also being allowed to create new opportunities for rapid scaling.
Lemon is set to remain fully focused on developing a product that will service as many SaaS vendors as possible while ensuring that affordable cost is passed on to SMBs as well. According to the official press release, in recent use cases, Lemon has saved businesses over 50% of the expenditure on SaaS subscriptions, as well as reducing churn for vendors.
Throughout this partnership, the finance element is expected to vastly increase the capabilities of already existing products, allowing Lemon to onboard and service a wide variety of SaaS vendors who need to reduce their current customer churn and reduce costs for their clients at the same time.
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