Barclaycard, Liberis Offer SMBs Revenue-Based Financing

Payments company Barclaycard and embedded business finance platform Liberis have teamed up to offer small- to medium-sized business (SMB) customers access to personalized, revenue-based financing, according to a Tuesday (June 7) press release.

The partnership follows Barclays’ investment of 34.5 million British pounds (about $43.4 million) in Liberis last year, the release stated.

London-based Liberis said in the release the funding will help it develop its application programming interface (API)-driven embedded finance platform, launch new products for SMBs and continue its global expansion. The company’s platform has been integrated with partners in the United Kingdom, United States, Ireland, Sweden, Finland, Denmark, Slovakia and Czech Republic.

The partnership gives customers access to Barclaycard Business Cash Advance, a new solution designed to help fund SMBs with fixed-cost financing, according to the release.

“We are very excited to launch our finance partnership with Barclaycard to provide personalized business finance to their small business customers,” said Liberis CEO Rob Straathof in the release. “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.”

Added Barclaycard Payments CEO Rob Cameron in the release: “Small businesses underpin the U.K. economy, and it’s critical that they have quick and easy access to the flexible finance products they need to support their growth.”

Last year, Liberis announced it would only fund SMBs through partnerships with eCommerce and payments companies.

Read more: Liberis to Only Fund SMBs via eCommerce, Payment Partnerships

Straathof said at the time that his company reaches “far more [SMBs], and the economies of scale we can achieve enable us to pass on our savings to their users.” By gleaning a different view of customers’ business via revenue data, it can provide better financing offers.