Online marketplace eBay has partnered with Asto, the Santander-backed FinTech, to offer cash flow loans to small businesses.
The partnership looks to help eBay’s customers ease cash flow pressures and grow their businesses.
Paolo Levoni, eBay’s chief operating officer, explained that the website has over 200,000 British small to medium-sized enterprises (SMEs) active on it. “Our partnership with Asto is designed to help our business sellers efficiently access cash loans to help them expand and manage cashflow – our latest step in helping small businesses in the UK to thrive.”
The Asto finance app will provide eBay customers a way to get accessible finance in a few clicks.
The company’s chief executive Sigga Sigurdardottir commented: “Working with eBay, Asto will empower small business owners with secure access to funds in a matter of minutes from their phone, versus traditionally several weeks.”
The cash flow loans will be launched later this year.
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