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Sep 28, 2022, 05:00 ET
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HANGZHOU, China, Sept. 28, 2022 /PRNewswire/ — PingPong Payments, one of the world’s leading end-to-end payment solutions for global cross-border businesses, has entered into a partnership agreement for lending services with Uncapped, Europe’s first revenue-based finance provider.
After e-commerce merchants have established a steady business basis and get ready to expand their business, financial liquidity often becomes a challenge that tests the sellers’ comprehensive strength including brand popularity, inventory, logistic and supply chain management. The opportunity for a fast and low-cost financing channel is a great way to increase the chances of the merchants’ success.
With the new partnership between PingPong and Uncapped, PingPong customers can now fund their online businesses with a capital advance from lending partner Uncapped. All that is required for eligibility for an advance of €10K to €10M is proof of 6+ months of trading and €10k+ in monthly revenues.
“With Uncapped, PingPong is bringing a meaningful offer to PingPong customers for them to receive fast funding supports, which would be a key to their commercial success in the e-commerce world. The partnership is a milestone signifying PingPong’s new steps to full scope services for e-commerce sellers in Europe.” says Chunhe Zhang, the Managing Director of PingPong Europe.
“We’re thrilled to launch our strategic partnership with PingPong, a global leader in online payments. Our collaboration provides merchants with payment methods, tools, and capital they need to scale. Uncapped exists to help founders win, and our combined offering will allow entrepreneurs to do just that.” says Piotr Pisarz, the CEO at Uncapped.
About PingPong Payments
PingPong Payments was founded in 2015 with the mission of helping global e-commerce sellers keep more of their profits, by beating transaction rates traditionally offered by banks. The company acts as a multi-dimensional growth partner to more than 1 million online sellers worldwide, it has processed more than $90 billion in cross-border payments for e-commerce merchants to date, and transfers more than $150 million a day on behalf of international e-commerce sellers. Global merchants around the world trust PingPong Payments to help them save on cross-border payments, VAT, and supplier payments, and more. PingPong works with reputable brands such as Citibank, BNP Paribas, J.P. Morgan and Wells Fargo that have won licenses to operate efficiently and are subject to strong regulatory and supervisory frameworks across the Europe, U.S. and Asia.
Uncapped was born out of frustration with the existing funding options available to European entrepreneurs. Since their inception in 2019, Uncapped has celebrated significant wins. Recently identified as the 2nd fastest growing Fintech in Europe, they grew 554% in 2021, including hitting a milestone of lending $12.5 million in capital to 15 companies in a single day.
SOURCE PingPong Payments
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