NEW YORK and LONDON, Aug. 24, 2022 /PRNewswire/ -- LianLian Global, a leading global cross-border payments service provider, and London-based lendtech Uncapped have announced a strategic partnership to provide ecommerce entrepreneurs and online merchants in the US and UK with access to fast and flexible financing to grow their business through the LianLian Global platform.
LianLian Global's partnership with Uncapped will enable US and UK registered ecommerce companies to secure financing from $100,000 to $10 million, without any equity, interest or personal guarantees in under 48-hours, to grow their business by securing inventory, acquiring new customers or hiring more staff.
"Our partnership with Uncapped is strategically important for LianLian Global. This exciting announcement positions us as the global leading provider of end-to-end cross-border payments and finance services for ecommerce sellers," said Kevin Boland, VP International Business Development, LianLian Global. "Through LianLian Global, our customers can access the funding they need in Q3 to stock inventory, pay suppliers, and grow their business in Q4."
Andrew Gnananantham, Head of Commercial at Uncapped, said: "We're delighted to partner with LianLian Global, one of the leading cross-border payments solutions in ecommerce. Uncapped exists to help founders win, so we are proud to power LianLian Global's product offer to unlock new opportunities for growth for marketplace sellers. Now including fast, easy access to growth funding, we see LianLian Global as a definitive full-service partner for any ecommerce entrepreneur eyeing international expansion."
Online merchants often struggle to secure funds with traditional lenders. According to CB Insights, Q1 of 2022 saw the lowest quarterly total of funding to ecommerce companies since 2020. Additionally, the World Bank found that globally, Small to Medium Enterprises (SMEs) have unmet finance needs of approximately $5.2 trillion a year which is almost 1.5 times the current lending market for this segment of businesses.
The finance partnership is designed to provide much-needed financing options for ecommerce businesses. Eligible companies can expect a transparent finance structure with a flat fee as low as 2% on the capital provided. Visit www.lianlianglobal.com for more information.
The partnership announcement comes shortly after LianLian Global expanded its payments services in the UK in August, and launched a cross-border wallet in the US at the end of June this year.
LianLian Global has offices in 12 countries that help more than 1.4 million ecommerce stores grow their cross-border businesses. LianLian Global owns over 60 licenses worldwide. In addition, the company has partnered with leading financial institutions such as Citi, Deutsche Bank, and J.P. Morgan to power their solutions.
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About LianLian Global
LianLian Global is a leading cross-border payments company that connects local sellers to global opportunities. We make it easy for ecommerce merchants to do more international business. So when sellers need to receive international payouts, get financing, solve shipping logistics, manage foreign exchange, or pay tax obligations abroad, we simplify the complexity of operating in other countries, giving merchants and sellers the freedom to do business seamlessly. Part of LianLian Digitech, and with licenses and offices in the Americas, Europe and throughout Asia, LianLian Global is integrated into mainstream ecommerce platforms worldwide, with services covering more than 100 countries and regions. www.lianlianglobal.com
Uncapped's financing allows founders to raise growth capital without giving up control of their business. The company was born out of frustration with the limited financing options available for entrepreneurs. Uncapped provides business advances of £10K to £10M in just a few simple steps, allowing online businesses to access fair and flexible finance. Uncapped never takes equity and its low fees are paid back on personalised pre-agreed terms, so founders maintain complete control. No hidden charges, no surprises! To learn more, visit Uncapped.