Through this partnership, now active in Spain, Portugal, and Poland, eligible merchants can access a cash advance via the Glovo platform. They can use the funds to grow their business in necessary areas, such as purchasing equipment, undertaking renovations, improving cash flow, or investing in marketing.
According to the company, since its launch, the product has achieved a net Promoter Score of 88, reflecting optimal access to capital, improved experience, and a product tailored to unique business needs.
All verifications and credit checks are conducted by finmid’s platform integration, using real-time transaction and business performance data. Merchants then receive funding within 24 hours, eliminating the need to fill in lengthy forms, navigate low approval rates, and experience slow payment cycles compared to traditional financing providers.
On average, merchants receiving financing through the finmid integration can experience up to a 20% increase in sales that would not have been possible without the funding.
finmid’s Embedded Finance infrastructure is now operational in 20 countries, enabling its B2B software platforms to unlock new revenue streams and optimise customer relationships through its all-in-one embedded lending products.
As many SMEs in the retail and restaurant sectors face cash flow challenges, this partnership aims to provide merchants with access to financial solutions and ways to invest in their growth.
The retail lending market is expected to grow from USD 5.70 billion in 2025 to USD 7.75 billion by 2034, according to Market Research Future. Digitalisation is a key aspect influencing this sector, as the increasing use of artificial intelligence and machine learning enables lenders to automate loan applications, offering access to 24/7 lending, underwriting, and customer service processes. Additionally, the increasing popularity of mobile wallets and digital payments is facilitating optimal loan disbursements and repayment processes, thereby further improving the adoption of retail lending services.
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