FlexiPay is the first payment product offered by Funding Circle, allowing small businesses to offer Buy Now, Pay Later (BNPL). The solution gives businesses the ability to control their own payments on any expense, anywhere. Powered by the platform’s machine learning and technology, businesses can apply within minutes and access up to USD 40,000 almost immediately.
FlexiPay enables businesses to spread any UK invoice or supplier payment over three months, with the initial payment made upfront on their behalf. By empowering small businesses to BNPL, the service provides businesses with flexibility to negotiate with suppliers, deal with unexpected payments, buy equipment, and more.
Funding Circle now serves 50 per cent of term loan customers. This market functionality has reduced the application time to an average of six minutes and wait for a decision to nine seconds.
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