Elavon funds hundreds of small businesses through a seamless partnership with Liberis
The Challenge
Merchant services provider Elavon wanted to address the cashflow concerns of their customers following the challenges posed by the pandemic, which led them to revenue-based finance powered by Liberis.
Elavon researched their existing customers after the pandemic to ascertain how they could best support them. Overwhelmingly, their findings revealed concerns about cash flow and the ability to stay afloat and invest in alternative business models as consumer behaviours shifted.
The solution
Elavon explored the market for a partner that could help them deliver cash flow support to their customers by leveraging their core payments offering. With a proven record of approval rates underpinned by a powerful credit assessment functionality based on performance and sales, Liberis was the obvious choice.
The result was ‘Elavon Business Finance’, which was launched at a time when it was difficult for small businesses to obtain unsecured finance, making it the right fit for Elavon and their customers.
“Since we launched Elavon Business Finance, hundreds of our customers across the UK and Ireland have benefitted from the more than £26 million in funding delivered for investment in their businesses.”
Eva Paredes
Elavon
The result
Elavon Business Finance have increased customer loyalty through access to flexible funding to meet critical business needs. Business growth and a positive customer experience has led to 4 out of 5 funded customers taking additional funding after the first round.
The future
Elavon’s partnership with Liberis has already benefitted their customers in the UK and Ireland, and they want to expand the ‘Elavon Business Finance’ product into new markets. “We can’t do this alone – Liberis is a key part of this, and we see our partnership only getting stronger.”