Lopay and YouLend team up to offer financing to UK SMEs

Lopay and YouLend intend to continue to allow the former’s customers to benefit from its payment fees while also receiving access to capital that can minimise the cash flow complexities that businesses face daily. By leveraging Lopay’s cash advance feature, SMEs can optimise the customer experience, as they receive offers based on their sales volumes through a digital application process that can be completed rapidly. These capabilities come as part of Lopay’s commitment to enabling businesses to invest in development opportunities, cover unexpected expenses, and increase cash flow without the lengthy approval process that they usually face with traditional financing.

Within three months of the launch of its collaboration with YouLend, Lopay provided GBP 1 million in funding to small businesses, underlining the increased demand for working capital from UK companies. When commenting on the announcement, representatives from Lopay mentioned that YouLend’s financing solutions enabled their company to scale its value proposition and work on resolving the main challenges faced by its customers, including cash flow issues and access to capital. The decision to team up with YouLend can be attributed to the firm’s ability to rapidly assess creditworthiness, which matches with Lopay’s objective of delivering reliable financial solutions that ensure businesses can advance their operations.

Both YouLend and Lopay aim to expand their partnership, planning to invest in developing a scalable solution that fits the needs, demands, and requirements of Lopay’s customer base.