Liberis announces partnership strategy shift for SME finance
Liberis, the London-based global embedded finance platform, has announced a new strategy shift that will only see it fund SMEs via partnerships and collaborations with ecommerce and payments companies.
The fintech, which was founded in 2007, has financed more than 17,000 SMEs worldwide to date and previously provided direct finance services to small businesses.
Following its recent expansion into Denmark, Liberis is now offering revenue-based financing for an estimated 34,000 local small to medium-sized enterprises. The company has also made the Tech Nation Future Fifty list, cementing its position as o ne of the UK’s leading fintech businesses.
Liberis is now active in seven countries across three continents and has funded SMEs globally with $700M through 40K transactions. The fintech is also now the largest provider of revenue-based financing options for Danish SMEs.
Bigger marketplace for Liberis
According to reports, the fintech has enjoyed healthy growth over the past decade. To date, the company has raised a total funding amount of £200M. The UK firm has more than 30 global partners including ecommerce platforms, payment processors, SaaS providers, online marketplaces and ISOs.
The move into Denmark and the move to operate through partnerships will expand the company’s marketplace potential.
Speaking about the decision to only offer finance to SMEs via partnerships, Rob Straathof, CEO Liberis explained, “Today, only 2 5% of SMEs that apply for funding through banks are successful. Liberis has proven that the businesses that get rejected by traditional banks are suitable for pre-approved financing.”
Straathof said that up until now, Liberis has been offering SMEs revenue-based finance directly, as well as through partners. However, through its growing partner ecosystem it can reach far more SMEs, and the economies of scale enables the fintech to pass on savings to their users.
He continued, “By getting a different view of customers’ businesses through revenue data, we can pre-approve personalised financing offers that work for everyone.
“This system works: we are seeing an 80% renewal rate from SMEs who are able to access the funds they need through the services they already use.”
Pedram Tadayon, Chief Commercial Officer for Liberis, said the fintech’s entry into Denmark, which is ju st emerging from a nationwide lockdown, presents a wealth of opportunities for Liberis and small to medium-sized businesses alike. “We are thrilled to be able to provide its [Denmark’s] owner-managed businesses cashflow support for staff, stock, and utilities.
“We are excited to now be the largest revenue-based finance (merchant cash advance) provider in Denmark, offering a much-needed solution and new approach to help local businesses fund their growth.”
Straathof added, “Our partners are adding a new value stream to their customers, and everyone is happy.”
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Currently the Senior Vice President of Business Development & Fintech for Mastercard UK & Ireland, a position he’s held since 2014, Abraham describes himself as “a proven and successful senior sales leader with experience across a wide range of industries, sectors, and channels.”
Graduating from the University of Northampton in 1994 with a BA in Economics and Law, he worked for nine years at Sainsburys - eventually responsible for banking the company’s revenue and running its ATMs - and then Barclaycard for three years as Head of Client Management. In 2007, Abraham became VP of Client Management at American Express, and then VP and GM Global Supplier Relations EMEA in 2012.
In his current role at Mastercard, Abraham is accountable for the acceptance of all payments and products through all channels, devices, and technologies across UK and Ireland. In addition, he oversees the deployment of innovative new payment tech within the region.
Fraser-Hawkins’ role as CEO, UK Corporate, at Marsh McLennan is the continuation of a long and successful insurance career, which has included being London Sales Director for JLT Group and Branch Director for Willis Towers Watson.
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Massaro is currently the CEO of Boston fintech Flywire, a role he took on in 2013. He first joined the team in 2012 as VP of Business Development, but it wasn’t long before his entrepreneurial skills were redirected to leading the entire company’s high-growth strategy worldwide.
An expert in domestic and international payments and billing, enterprise technology sales, strategic alliances, enterprise software, SaaS, product management and marketing, and much more, Massaro is a consummate finance professional whose credentials befit the leadership of a prominent global payments fintech.
His previous positions include Consultant at PwC and Product Line Manager at Oracle, and he maintains a Mentor role at startup accelerator MassChallenge. He graduated magna cum laude from Babson College with a BS in Information Systems and Finance.
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