Funding Circle Launches BNPL Instrument FlexiPay for SMEs

Funding Circle, a leader in delivering loans for SMEs, announced recently the launch of FlexiPay, a buy now pay later (BNPL) instrument, as the next step in its mission to help solve more funding problems for small businesses. 

According to the official press release, FlexiPay is the first payment product offered by Funding Circle, enabling businesses to spread any UK invoice or supplier payment over three months, with the initial payment made upfront on their behalf. This provides businesses with greater flexibility to negotiate with suppliers, deal with unexpected payments, buy equipment, and more. 

Besides, the new offering provides a new and unique solution whereby businesses can apply within minutes and approved customers can access a credit facility of between £2,000 and £30,000 almost immediately, which can be used to make payments to suppliers.

“We are really excited to be using our market-leading technology to launch FlexiPay, which is designed to support small businesses to manage and control their cash flow. The new product enables businesses to buy now and pay later on any business spend in a way that suits them,” said Lisa Jacobs, Europe Managing Director of Funding Circle.