Global Asset Finance Limited partners Divido, the retail finance platform, is today extending its proposition to provide a B2B finance solution at the point of sale across Europe. In partnership with its panel of specialist business lenders, Divido’s platform now allows retailers to offer B2B finance to their business customers at the checkout to increase sales.
Traditionally, businesses would expect to pay on invoice or upfront, tieing up valuable capital. By providing an alternative finance option that allows payment through instalments rather than one lump sum, this frees up capital and provides greater control over cash flow, ensuring businesses feel supported, rather than impeded, on their ambitions to grow. The credit limit for each application is up to £150,000 and the retailer is paid in-full upfront.
Divido’s platform, an extension of its already hugely successful B2C retail proposition, is set to disrupt the rapidly expanding B2B eCommerce market, predicted to grow to double the size of B2C eCommerce by 2020.
Offering point of sale finance to these customers drives conversion at every stage of the purchasing funnel; attracting new customers, increasing sales and raising average order values.
It will initially be available to retailers that sell to businesses in the UK, Germany, Poland, Sweden, Norway, Finland and Denmark, with many more European countries to be added within the following year, as well as further afield.
“The launch of our B2B finance platform is another great milestone in Divido’s development”, comments Divido CEO and co-founder, Christer Holloman. “With the growth of B2B eCommerce continuing to gather great pace, any merchant that cannot offer a way of reducing the financial burden their customers face at the point of sale will miss out on a huge growth opportunity.
With our multi-lender, multinational platform, we are perfectly positioned to support the ambitions of any national or global business looking to expand.”
Customers can access the B2B finance platform at check-out, selecting Divido to begin a simple and quick approval process. A credit decision is made in real-time before the customer is given the option to review the agreement.
If accepted, the retailer is paid in-full upfront and the customer enters a 12-month loan agreement with the lender. They may also amalgamate multiple purchases into one repayment schedule.
Every European B2B and B2C retailer on the High Street or Ecommerce will soon see sales growth increase between 20% to 40% if looking to change the companies modus operandi on sales.