Pleo and Yapily partner to boost business cash flow

Pleo is partnering with open banking platform Yapily to bring a more simplified payments experience to its UK users.

Focusing on improving cash flow management, the expense management fintech plans to solve the issue for businesses through open banking.

Pleo users will now be able to top up their accounts directly from their bank accounts, enabling customers to get funds instantly, avoiding long settlement times.

In turn, businesses and employees across Europe will be able to access cash more quickly and better calculate and manage their cash flow.

“Manual processes, settlement periods, and bottlenecks in cash flow are all avoidable obstacles,” Pleo chief product officer Olov Eriksson said. 

“We want to enable our users to focus on what really matters: growing their business and empowering their people.”

Eriksson explained that partnering with Yapily is “all about maximising the benefits of open banking technology”, enabling a frictionless user journey for customers.

According to Pleo,Yapily has enabled Pleo to process more than £10m in open banking payments in the last six months.

“Current market conditions mean that businesses in the UK and across Europe are looking for ways to better manage costs and increase cash flow now more than ever,” Yapily founder and CEO Stefano Vaccino said.

“We’re proud to be lifting some of the burden for them in the way we know how.”

Open banking “top-ups” for Pleo customers will be rolled out across Europe in the coming months, starting with the Netherlands and France.