Cashflows deepens partnership with Judopay to offer more businesses access to flexible funding

31, July 2024, London, UK: Cashflows, the platform that makes it easy for merchants to accept payments, has today announced that its flexible, fixed-fee business funding solution, Cashflows Advance, has been added to the payments platform provider Judopay’s offering. The strategic move will enable more businesses across the UK and Europe, such as those in the taxi and parking sectors, to access much-needed financing, during uncertain economic times in a way that works for them.

With the UK, as well as other nations across Europe, navigating recent elections and new governments there is renewed optimism about economic conditions. Small to Medium Sized Enterprises (SMEs), play a key role in any nation – making up 99.2% of the UK’s business population. This fact highlights the significant contribution SMEs have and emphasises the need for continued support and tailored resources to empower their success.

Cashflows Advance offers eligible merchants instant, pre-approved funding with flexible repayments tied to daily sales. The solution, developed in partnership with the funding platform Recap, provides much-needed financial support to businesses still struggling with traditional funding options despite the renewed optimism on the economy.

This deal with Judopay significantly broadens the pool of merchants that can benefit from Cashflows Advance, enabling them to access financing in a way that works for them. There has never been a greater need for this, with a growing number of small to medium enterprises in need of funding. In fact, 36% of UK SMEs now face cash flow issues, with another 24% also facing delays in investments, according to Aldermore’s Growth Index. Clearly, cash flow is a major problem for the UK’s businesses.

The pre-approved cash advance is based on historical data and users can operate the solution via a simple interface allowing them to select the funding they need and estimate the payment terms. This all helps to eliminate prolonged application processes and deliver funding to merchants when they need it most.

Hannah Fitzsimons, CEO of Cashflows, said: “SMEs are the backbone of the UK economy, but they often face significant hurdles accessing the capital they need to grow. Traditional funding options are rigid and slow, leaving many businesses starved of investment.

“At Cashflows, we’re committed to changing that. By offering flexible, pre-approved funding through Cashflows Advance, we’re empowering businesses to invest in their future and drive economic growth. Our partnership with Judopay is a major step forward in delivering on that promise. Together, we’re building a financial ecosystem that supports the ambitions of businesses.”

Jeremy Nicholds at Judopay, added: “At a time when growth is challenging for many UK businesses, we’re working with Cashflows to rethink the way businesses can access funding to further develop their business. Offering Cashflows Advance provides Judopay clients with an easy and straightforward way to get the cash injection they need.

“This partnership is part of our joint commitment to empowering businesses. By providing seamless access to capital, we’re helping businesses navigate economic challenges and seize growth opportunities. We’re excited to collaborate with Cashflows and continue supporting our clients’ growth.”