Viva.com has announced it is launching Merchant Advance, a credit solution that helps tackle critical cashflow issues for businesses.
In a statement, it said the solution offers transparent capital to businesses, based on merchant acquiring data while loan disbursement is instant, enabling businesses of any size or type can immediately access capital for growth.
Merchant Advance has been designed to reduce the length of the application process by leveraging merchant’s payment history with Viva.com. It has been made available in Belgium, Germany, Netherlands, and Spain and will expand to more European countries soon, the firm said.
“Having access to reliable and flexible capital is critically important for growing businesses, but for millions of European merchants it’s a real struggle to find the right solution. Traditional capital providers, and even newer market entrants, have to vet businesses properly, which results in time-consuming processes before any decision is made,” said Yannis Larios, Senior VP Strategy & Business Development at Viva.com.
“Viva.com’s Merchant Advance changes the game, allowing our customers instant access to working capital based on smart prescoring. This allows us to offer instant, flexible and transparent capital that they can use to grow without restrictions,” he added.
Viva.com is a technology bank with an ECB approved banking license and physical presence in 24 European markets. Merchant Advance is the latest inclusion in its digital payments bundle, a collection of integrated services that help businesses with several activities from acquiring and issuing to business accounts and tailored financing.
