Teya provides merchants with over £14m in frictionless funding by partnering with Liberis
The Challenge
Teya exists to help small, local businesses around Europe thrive by providing tools that unlock hassle-free payments and better business management, including flexible funding.
Small businesses often struggle to access the credit they need to grow or sustain operations. Further, these businesses have limited resources for daily business management. Understanding these struggles, Teya set out to offer a funding service that simplifies the process and provides quick, convenient access to financing, allowing merchants to focus on running their businesses.
The solution
Liberis’s embedded finance model aligned well with Teya’s vision to remove friction and create convenience for merchants. Further, Liberis has an impressive track record of successfully funding SMEs of all sizes.
The Liberis service extended beyond the sales process; they worked in partnership with Teya to embed the merchant’s application journey into their ecosystem, with a focus on constantly improving the experience – providing the quickest time to market and creating an agile financing service. The offering can also be quickly expanded to Teya’s other core markets across Europe, allowing them to provide increased access to frictionless funding.
Teya customers benefit from high levels of automation that powers speed to funding (application to funding made possible in under 10 minutes), effortless payments, and seamless renewals. Flexible creditworthiness scoring based on future transactions, not credit history, unlocks access to working capital when small businesses need it most – such as hiring staff and buying inventory for peak periods.
“Through our continuing collaboration with Liberis, we are determined to offer additional products that remove barriers to merchant financing. This ambition will underpin our integration and expansion to more EU markets.”
Vijay Kumar
Teya
The result
Since launching in May 2023, Teya (in partnership with Liberis) has removed friction from the funding process for hundreds of businesses, totalling over £14 million.
The future
Through our continuing collaboration with Liberis, we are determined to offer additional products that remove barriers to financing for merchants, such as optimisations to improve speed to funding and expanding the hands-off funding journey. This ambition will underpin our integration and expansion to more EU markets.