Through this partnership, business customers can apply for financing from GBP 3,000 to GBP 1,000,000, depending on eligibility, through their existing OnBuy seller account.
The funds are available to spend on any business purpose, so whether they are stocking up in time for Q4, investing in new projects, or simply looking to give their cash flow a boost, sellers can access the funds they need, when they need them most.
Unlike traditional bank loans, there are no fixed monthly repayments or hidden surprises. Instead, the funding is repaid by a small amount each time the seller makes a sale on OnBuy, ensuring added peace of mind - even during quieter sales periods.
OnBuy’s founder and CEO, Cas Paton, said that OnBuy is committed to transforming the online retail experience, and that’s why their partnership with YouLend is important. Whether their retailers are looking to invest in stock, increase their cash flow, or simply scale their business, they want to make it easier for them to get the support they need, and that’s what this financing solution aims to do.
Officials from YouLend said their mission is to extend financing to as many businesses as possible via global ecommerce platforms, payment service providers, banks, and tech platforms. They recognise that SMEs often struggle to access the capital they need to grow their business, hence they are very happy to support OnBuy sellers with fast, flexible, and affordable financing.
YouLend has extended financing over 100,000 times to businesses across the UK, EU, and the US.
In May 2023, OnBuy has introduced Clearpay as a new payment option, allowing customers to split payments into four interest-free instalments over six weeks for most products. This move aims to enhance convenience and flexibility during checkout. Additionally, OnBuy has joined Clearpay’s Shop Directory, attracting new customers to its merchants.
Responding to customer preferences, the partnership addresses the demand for varied payment methods. OnBuy's focus on improving the shopping experience is further evident through its commitment to offering more choices, benefitting both customers and sellers by driving increased sales.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now