Buy-now-pay-later fintech Klarna has chosen to partner with embedded finance platform Liberis to offer pre-approved revenue-based financing to its global merchant base.
The partnership will see Liberis, which has API-powered technology that integrates directly into its partners’ platforms, initially provide revenue-based finance to e-commerce companies across 17 countries.
The revenue-based funding options will be available immediately for Klarna merchants worldwide in the coming months.
Rob Straathof, CEO of Liberis, said: “We are proud to have been selected by Klarna, one of the world’s most successful and admired fintech companies, in our shared mission to support the growth of small businesses around the world.
“Klarna’s ‘buy now, pay later’ functionality has allowed merchants to serve their customers for many years. We are thrilled to expand this functionality by offering these companies a flexible financing option, embedded within Klarna’s platform, that will bolster their businesses through hard times and periods of growth.”
Personalised, pre-approved financing offers will be displayed within the merchant’s Klarna dashboard or app, allowing the merchant to complete an approval and underwriting process, and receive the funds within two business days of applying.
All of the transactions for the financing – both receipt and payment – take place within the merchant’s Klarna account, at a pre-arranged rate of their choosing, Liberis said.