Denise Johannson and Monika Liikamaa/Enfuce
Funding Circle partners with Enfuce to launch credit cards for small businesses
The FlexiPay card will help small businesses flexibly manage their cash flow needs and expenses
Funding Circle is partnering with embedded finance solutions provider Enfuce to launch small business credit cards.
‘FlexiPay’ is a revolving line of credit for small businesses in the UK to spread business costs and manage their short-term cash flow needs.
The FlexiPay card was developed through Enfuce’s ‘MyCard’ service, a management app enabling companies to launch their own card app, and through the Card-as-a-Service platform Funding Circle can offer physical business credit cards.
“We're really excited to have launched FlexiPay to help small businesses manage their cash flow, which we know is one of their biggest pain points,” Funding Circle managing director Jerome Fernandez said.
“We've expanded our offering to meet more customer needs by giving them more ways to spend.”
Small businesses will be able to use the business credit cards for upfront payments to suppliers and comes with a free app that allows customers to pay bills, manage their line of credit and schedule payments.
“This collaboration guarantees a steady cash flow and flexible repayment choices to small businesses when they need it the most, offering crucial breathing space for UK SMEs to achieve their full potential in a hassle-free and secure way,” Enfuce co-founder and co-CEO Denise Johansson said.
Enfuce co-founder and co-CEO Monika Liikamaa added that working with a “reputable British company” like Funding Circle marks a “significant step” in the company’s UK expansion plans.