China-based LianLian Global has partnered UK-based lendtech Uncapped in an effort to bring flexible ecommerce finance options to UK and US-based merchants.
The partnership between LianLian Global and Uncapped will allow US and UK-registered ecommerce companies to secure financing from USD 100,000 to USD 10 million without equity, interest or personal guarantees in less than 48 hours. Companies could use the funds to grow their businesses by acquiring new customers, hiring more staff members, and securing more inventory.
According to a report from cbinsights.com , online merchants often struggle to secure funds with traditional lenders, as proven by the fact that Q1 of 2022 had the lowest quarterly total of funding to ecommerce companies since 2020. Furthermore, research from WorldBank reveals that small to Medium Enterprises (SMEs) have unmet finance needs of approximately USD 5.2 trillion a year which is almost 1.5 times the current lending market for this segment of businesses.
According to LianLian Global, this partnership aims to provide much-needed financing options for ecommerce companies, which can expect a flat fee as low as 2% on the capital provided. China-based LianLian Global has partnered UK-based lendtech Uncapped in an effort to bring flexible ecommerce finance options to UK and US-based merchants. Other developments by LianLian Global
In June 2022, LianLian Global announced the launch of its multi-currency Cross-Border Wallet after securing licenses to operate in the US. This digital wallet allows US businesses to make and receive payments or convert USD to certain regional currencies quickly and compliantly. The system aims to minimise the bureaucratic burden of facilitating payments between Western businesses, customers and suppliers in China and other emerging markets worldwide.
In December 2021, LianLian Global partnered Netcetera , a payment security software company, to work on securing global online transactions. Netcetera has developed a 3DS acquiring server that is […]
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