Liberis, a leading global embedded finance platform, announced a partnership with myPOS, an award-winning FinTech platform and payment service provider to European SMEs. This partnership will enable myPOS to offer revenue-based financing in 10 European countries starting with the UK, providing small businesses with the money they need to fund new projects, address business challenges and expand at their own pace.
myPOS and Liberis’ partnership will provide revenue-based financing initially to merchants in the UK, and then expand across countries, including Germany, Ireland, Iceland and Finland. This partnership will provide much-needed financing across Europe, at a time when it needs it most.
SMEs employ two out of three people and provide 85% of new jobs in Europe, with 99% of companies falling into this category. According to the EIF’s latest working paper, SMEs rely disproportionately on bank-based debt instruments, despite one in four reporting difficulty accessing finance.