YouLend secures deal with J.P. Morgan to extend £4 billion in additional financing to SMEs
Summary
This will be accessible via partnered global e-commerce sites, tech companies, and payment service providers, such as Amazon, Dojo, eBay, and Just Eat Takeaway.com.The partnership with J.P. Morgan demonstrates a commitment to powering the backbone of the economy, by closing the funding gap for SMEs. The deal enables us to provide nearly \xa34 billion in additional SME financing and underscores our dedication to fuelling the growth and financial stability of SMEs. Looking ahead to 2024 and beyond, we are excited about the prospects of enabling YouLend to expand its credit offerings to UK and European small businesses. "The deal follows a major lending milestone recently announced by YouLend, as the embedded finance provider celebrated the provision of 150,000 instances of funding to SMEs across the UK, EU, and the US, since its launch in 2015. Its estimated that YouLend-backed SMEs have experienced a 26% uplift in sales in the 6 months following funding, contributing \xa36.8 billion in revenue to the GDP across YouLends core markets.Our software platform and APIs enable our partners to extend their value proposition by offering flexible financing products in their desired branding to their merchant base without necessarily putting capital at risk.We operate in over eight geographies across the UK, EU and the US.