News from the Wire

Liberis launches Flexible Cash Advance to fund eBay sellers

Thursday, September 26, 2024 — 12:08:13 (EDT)

London, UK and San Jose, CA, US, September 26, 2024 - Liberis, one of the leading global embedded finance platforms, has launched its latest product ‘Flexible Cash Advance’ with eBay Seller Capital in the United States, enabling sellers to receive larger and even more flexible financing, with funds ranging from $5k to $2M in the coming weeks - empowering sellers to get financing when they need it. eBay sellers can access ‘Flexible Cash Advance’ through their eBay seller dashboard and in as little as three minutes, they can complete the application process to receive same-day approval and funding up to $2M, and flexible payment schedules that scale with their sales cycles. As they make payments towards their outstanding balance, they will be able to unlock additional financing.

A study by U.S. Bank shared that 82 per cent of business failures are due to insufficient cash flow. 'Flexible Cash Advance' helps businesses that have unpredictable cash flow stay afloat, buy more inventory, prepare for seasonal fluctuations and deal with unexpected expenses - allowing them to thrive where previously they may have struggled.

Rob Straathof, CEO of Liberis commented “In July, we launched Business Cash Advance to eBay sellers, funding thousands of sellers and providing millions of working capital to date. Our new product ‘Flexible Cash Advance’ is the next step in building technology that solves every business need in one platform. Flexible Cash Advance provides small businesses with a 12-month flexible cash reserve, helping them manage unpredictable sales periods and stay operational and even thrive where others might struggle to stay afloat.”

"We are thrilled to expand our eBay Seller Capital Program with the introduction of Flexible Cash Advance to continue investing in the success of our sellers on our marketplace. This new financial solution offers expanded funding ranging from $5k all the way to $2M and enables entrepreneurs on eBay to unlock additional capital as they pay”, said Avritti Khandurie Mittal, VP & General Manager of Global Payments and Financial Services at eBay.

Mittal adds “Earlier this year we launched Business Cash Advance, another exciting seller capital offering and have already successfully funded thousands of sellers and dispersed millions of dollars in working capital. We're thrilled to build on this momentum with our latest financial solution, Flexible Cash Advance as we continue to offer fast, convenient and transparent seller capital solutions that fuel the growth of small businesses and create economic opportunity for all.”

About Liberis

Liberis builds flexible embedded finance solutions that empower businesses and provide positive impact. Founded in 2007, Liberis is a leading global embedded finance platform with a mission to provide small businesses with accessible and responsible finance, based on the belief that funding should always be a positive force for small businesses. Liberis provides partners with the technology platform and financial solutions to offer hyper-personalized and accessible funding, empowering their small business customers to grow their revenues. With over 30 global strategic partners and direct reach to more than 1 million small businesses, Liberis has provided over $1.5bn of funding in over 70,000 transactions, enabling more than 100,000 jobs to be created and saved. Liberis’ revenue-based finance is a form of receivables finance, not a loan. Amounts advanced are subject to status and our underwriting process before any offer can be made. Visit their website for more information: liberis.com

About eBay

eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2023, eBay enabled more than $73 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.

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Source: Company press release.