Liberis and Barclaycard partner to offer revenue-based finance products to SMEs

By Joy Dumasia

Liberis, a global embedded business finance platform, announced that it has entered into a partnership with Barclaycard to offer its small business customers access to personalised revenue-based finance. The news follows Barclay’s investment of £34.5 million in Liberis in Q4 2021. 

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.” 

In part, the finance will help Liberis 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 the 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 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 will pay back the sum plus a pre-agreed fee. It offers fixed cost financing with flexible repayment terms allowing business owners to access the funds they need when they’re needed. 

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.”

IBS Intelligence also reported that Barclaycard, one of the UK’s largest credit card providers, has partnered with Avios to launch two new credit cards that allow customers to collect Avios when making purchases and provide a host of travel-related perks.