Payment technology provider, Dojo, has now successfully extended over £1billion in flexible funding since 2020, in partnership with global embedded financing platform YouLend.
Through its partnership with YouLend and its mission to support small and medium-sized enterprises (SMEs) across the UK, Dojo has provided financing to over 20,000 businesses.
Jakob Pethick, chief commercial officer at YouLend, comments: “This milestone proves YouLend’s strong commitment to delivering a world-class experience for our partners and their merchants. Our success with Dojo demonstrates just how strong the demand from small businesses is for timely, accessible capital. Together, we’ve provided essential financing to tens of thousands of businesses, empowering them to pursue ambitious goals and make a meaningful impact on society.”
The partnership enables Dojo to integrate YouLend’s financing solutions into its payments platform, giving customers convenient access to business funding directly through the existing interface. Dojo and YouLend explained that whether it’s repainting, replacing, restocking, or reaching for the stars, they are backing SME ambition in the UK by empowering small businesses to tackle cash flow challenges and navigate the hurdles of business financing.
Businesses can apply for as much as £1million in funding and receive tailored offers within 24 hours by using the offering. YouLend’s revenue-based repayment process enables SMEs to pay back a fixed percentage of future sales, offering the flexibility to make larger repayments during peak revenue times and smaller payments when sales slow down.
Neil Richards, general manager business funding at Dojo, comments: “Dojo’s partnership with YouLend has enabled Dojo to help SMEs thrive in the experience economy. With financing applications available in minutes through the Dojo app and funds often accessible within two business days, we’re delivering agile, customer-centric solutions that fuel growth and operational flexibility.”
Following the £1billion milestone, the two fintechs plan to further scale their partnership and expand business funding to new European markets this year.
