Liberis enters Canada with embedded finance for SMBs

Embedded business finance provider Liberis has entered the Canadian market, bringing its “four-click funding” solution to small businesses in the country, following a debt financing injection at the end of last year.

Liberis is launching in Canada with its partner, business management platform for the beauty, wellness and fitness industries Vagaro.

Vagaro, enabled by the Liberis platform, has already launched its offering Vagaro Capital into the US, UK and Canada within three months.

Through the Liberis platform, partners like Vagaro are able to support small business owners in accessing fixed-cost financing with flexible payment terms.

Partners can run the entire approval and underwriting process within their own ecosystem, meaning that small business owners receive the funds in “four clicks”.

Liberis secured $112 million in debt financing from HSBC Innovation Banking and BCI Capital in December, with a view to funding its North American and European expansion.

“Lack of funding is a significant challenge felt by businesses globally, particularly SMBs”, said Rob Straathof, chief executive officer of Liberis.

“By expanding into Canada, we are furthering our mission to alleviate the strain which lack of funding has on SMBs and local economies globally.”

He added: “This expansion is a testament to our commitment to expand into every market across the globe and ensure that SMBs can access the funding they need when they need it.”

In the first half of 2024, Liberis intends to continue its global expansion with new and existing partners into Germany, Poland, Norway and Iceland.