Debite launches in UK

Debite’s Buy Now, Pay Later (BNPL) model means customers benefit from smoothing the cost of expensive business payments, such as subscriptions, marketing, and inventory, via a flexible and affordable repayment plan.

Debite will initially offer two main products in the UK – Save & Spend Loans and Boosted Debite Card.

Its loans offer instant cash to help businesses manage the high cost of growth critical initiatives. Whether that be saving on day-to-day operational costs, such as SaaS subscriptions through enabling the purchase of an annual vs monthly payment plans or supporting spend on key marketing campaigns to drive customer acquisition, Debite’s Save & Spend Loans help scale-up businesses navigate a number of major financial hurdles.

Businesses will be able to access funds, normally unavailable from traditional lenders, of between GBP 5,000 to GBP 50,000 at competitive interest rates starting at 1.40% per month.

Alongside this, the Boosted Debite Card offers dynamic credit limits that are typically 20 times higher than traditional lenders at 0% interest if paid within 30 days. Similar to Save & Spend, customers will benefit from a range of flexible repayment terms offering control over day-to-day cashflow and the power to unlock growth opportunities.

For both products, Debite’s application process is underpinned by its proprietary technology with no personal guarantees required. A lending decision is made within 24 hours, with cash available instantly. Customers are then easily able to track spending and make changes to their repayment plan through an interactive online portal.