Enfuce, a provider of embedded finance solutions, has revealed a new partnership with UK-based small business lending platform Funding Circle (LSE: FCH) to launch its new small business credit card as part of its FlexiPay product.
FlexiPay is a revolving line of credit that “helps small businesses in the UK to spread a wide variety of business costs and manage their short-term cash flow needs.”
By adding the new business credit card feature, Funding Circle has “further expanded its offering to serve more of its customers’ needs, giving small businesses the flexibility to now borrow, pay and spend with Funding Circle.”
To support the launch of the FlexiPay card, Enfuce, the Card-as-a-Service platform is enabling Funding Circle to “offer SMEs a physical, secure and flexible business credit card.”
The FlexiPay card was developed “through Enfuce’s MyCard service, a management app that enables companies to launch their own card app, helping streamline the process.”
Small businesses can use the business credit card “to make upfront payments directly to suppliers, and cover expenses like stock, equipment and energy bills.”
FlexiPay also comes with “a free ‘FlexiPay by Funding Circle’ app, which allows customers to pay bills, schedule payments and manage their line of credit, on the go.”
Listed on the London Stock Exchange, Funding Circle has a strong commitment to empowering SMEs, “having globally extended credit to over 140,000 businesses, totalling more than £16 billion.”
The partnership with Enfuce will bolster Funding Circle’s product offering “while furthering its mission of backing small businesses with hassle-free lending.”
Denise Johansson, Co-Founder & Co-CEO of Enfuce, said:
“We’re delighted to partner with Funding Circle to empower SMEs. This collaboration guarantees a steady cash flow and flexible repayment choices to small businesses when they need it the most, offering crucial breathing space for UK SMEs to achieve their full potential in a hassle-free and secure way.”
Monika Liikamaa, Co-founder & Co-CEO of Enfuce, said:
“Working with such a reputable British company marks a significant step in our UK expansion plans, and we take great pride in furnishing the cards essential to help further drive the UK economy.”
Jerome Fernandez, Managing Director of FlexiPay at Funding Circle, said:
“We’re really excited to have launched FlexiPay to help small businesses manage their cash flow, which we know is one of their biggest pain points. We’ve expanded our offering to meet more customer needs by giving them more ways to spend. We’re pleased to be partnering with Enfuce in launching the card which is another milestone in our ongoing product development journey.”