Liberis and Barclaycard join forces on innovative cash advance product for SMEs

The finance will in part help Liberis to further develop its API driven embedded finance platform, deliver innovative new products and solutions for small businesses, and continue its international expansion. Liberis has integrated its platform with over a dozen global strategic partners in 8 countries including the UK, USA, Ireland, Sweden, Finland, Denmark, Slovakia, and Czech Republic, and is looking to expand further into Europe.

Alongside Barclays, Liberis is backed by investors including UK based venture builder Blenheim Chalcot and US based growth investor FTV Capital.

Barclaycard Business Cash Advance is a brand-new solution that’s been designed to help small businesses by providing the funding needed to grow their businesses. Cash Advance is an alternative finance product where Liberis advances a sum of money to eligible merchants on the grounds that they pay the sum plus a pre-agreed fee. It offers fixed cost financing with flexible payment terms – allowing business owners to access the funds they need, when they’re needed.

Rob Straathof, CEO of Liberis, commented, “We are very excited to launch our finance partnership with Barclaycard to provide personalised business finance to their small business customers. This investment is a testament to our leadership position in embedded business finance and shows how banks and fintechs can create vital partnerships to help even more small businesses obtain the funding they need to grow.”

Rob Cameron, CEO of Barclaycard Payments, said, “Small businesses underpin the UK economy and it’s critical that they have quick and easy access to the flexible finance products they need to support their growth. Having a bit of extra breathing room with repayments through Barclaycard Business Cash Advance will give many SMEs the confidence they need to invest in growing their business. We’re looking forward to continuing to work closely with Liberis to enhance our innovative suite of products.”

About Liberis

Liberis builds flexible embedded finance solutions that empower businesses and provide positive impact. Founded in 2007, Liberis is a leading global embedded finance platform with a mission to provide small businesses with accessible and responsible finance, based on the belief that funding should always be a positive force for small businesses. Liberis provides partners with the technology platform and financial solutions to offer hyper-personalised and accessible funding, empowering their small business customers to grow their revenues. With over 14 global strategic partners and direct reach to more than 1 million small businesses, Liberis has provided nearly $1 bn of funding in over 45,000 transactions, enabling over 100,000 jobs to be created and saved.

About Barclaycard

Barclaycard, part of Barclays PLC, is a leading global payment business that helps consumers, retailers and businesses to make and take payments flexibly, and to access short-term credit. In the UK they process nearly £1 in every £3 spent using credit and debit cards, and in 2021 they processed over £270bn in transactions globally. They also partner with a wide range of organisations across the globe to offer their customers or members payment options and credit.