The utilization of working capital solutions among Growth Corporates in North America has transcended the conventional focus solely on investment purposes. Insights detailed in the “2023-2024 Growth Corporates Working Capital Index (WCI): North America Edition” by PYMNTS Intelligence underscores this evolution, shedding light on the...
SumUp has raised a $100 million credit facility to launch a merchant financing solution. The British company’s Cash Advance tool offers advances of up to £20,000, based on merchants’ payment history and repayable via payment acceptance using SumUp’s card readers. According to a release emailed...
Recurring revenue trading platform Pipe announced the offering is now available in the U.K., a growth initiative that has the company adding a pair of tech veterans to its international leadership ranks. More than 8,000 U.S. companies have signed up on Pipe this year, with...
The digital compression of 2020 has drawn a wide range of speculation. Has it been ten years of change packed into one, as some have speculated? But maybe the most dramatic and realistic assessment comes from Pedro DePaula, director of MercadoLibre’s MercadoCrédito division. In Mercado’s home...
The pandemic has shone a spotlight on the urgent capital needs of small- to medium-sized businesses (SMBs) as they struggle with cash flow. In an interview with PYMNTS, Brian Reaves, CEO of Amsterdam-based Factris said SMB financing — and particularly the practice of factoring —...
A third of online lender LendingClub’s workers will be laid off, the company said on Tuesday, April 21. That’s 460 employees, including President Steven Allocca, as the company tries to navigate the tumultuous economy surrounding the coronavirus pandemic and slash costs. In addition, top executives...
Klarna, a Swedish FinTech that allows customers to pay for items through installments, has posted its first annual loss after years of being profitable, according to a report by CNBC. The company reported a loss of $113 million (1.1 billion Swedish krona) on revenues of $740...
Affordable housing in many American cities has reached crisis levels. For those looking for officially government-certified affordable housing, the average time on the waiting list is two years, though in some U.S. metros that time can extend to a decade and beyond. And that is...
Lawmakers across multiple states are considering legislation to reconfigure the often burdensome security deposit structure that adversely affects renters of less financial means, according to the Wall Street Journal. Insurance policies that would replace traditional cash up-front deposits are an alternative being considered by both...
