OnBuy are rapidly deploying new features and services and today, as part of their ongoing commitment to support their seller community, OnBuy have announced a partnership with global embedded financing platform YouLend. This will offer fast and flexible financing options for businesses that sell on OnBuy’s platform.
This news comes hot on the heels of their launch of OnBuy Cashback rewards to attract new buyers and the OnBuy seller referral incentive scheme to increase the number of sellers on the platform. Incidentally, although OnBuy have grown rapidly in recent years, they still have plenty of categories with room for growth, with the opportunity to dominate categories for retailers that onboard now.
Through the YouLend partnership, business customers can apply for financing from £3,000 to £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 is more committed than ever to transforming the online retail experience, and that’s why our partnership with YouLend is so important.
We pride ourselves on working with our sellers and championing their success, and teaming up with YouLend is just another example of how seriously we take this mission. Whether our retailers are looking to invest in stock, increase their cash flow, or simply scale their business, we want to make it easier for them to get the support they need, when they need it most – and that’s exactly what this financing solution will do!
We can’t wait to see how much of an impact it has on our sellers’ growth!– Cas Paton, founder and CEO, OnBuy
YouLend’s mission is to extend financing to as many businesses as possible via global eCommerce platforms, payment service providers, banks, and tech platforms. We recognise that SMEs often struggle to access the capital they need to grow their business; hence, we are very happy to support OnBuy sellers with fast, flexible, and affordable financing.– Luuk Visschedijk, Global Head of Partnerships, YouLend