Aiming to help eCommerce merchants that have established their businesses and are now looking to expand, PingPong Payments and Uncapped have partnered to enable PingPong customers in Europe to get a capital advance from Uncapped.
The new partnership agreement for lending services brings together the customers of PingPong’s end-to-end payment solutions for cross-border businesses with Uncapped’s revenue-based finance that can help fund their online businesses, according to a Wednesday (Sept. 28) press release.
“With Uncapped, PingPong is bringing a meaningful offer to PingPong customers for them to receive fast funding supports, which would be a key to their commercial success in the eCommerce world,” PingPong Europe Managing Director Chunhe Zhang said in the release. “The partnership is a milestone signifying PingPong’s new steps to full scope services for eCommerce sellers in Europe.”
PingPong customers with proof of at least six months of trading and at least 10,000 euros (about $9,700) in monthly revenues will be eligible for an advance of between 10,000 euros (about $9,700) and 10 million euros (about $9.7 million) from lending partner Uncapped, according to the release.
“We’re thrilled to launch our strategic partnership with PingPong, a global leader in online payments,” Uncapped CEO Piotr Pisarz said in the release. “Our collaboration provides merchants with payment methods, tools and capital they need to scale.”
The announcement comes about a month after Uncapped and LianLian Global announced a strategic partnership to provide online merchants in the United States and the United Kingdom with access to financing to grow their business through the LianLian Global platform.
Read more: LianLian Global Partners With Uncapped on eCommerce Financing
PingPong, too, has a growing number of partnerships, as it announced in May that it is partnering with European bank BNP Paribas on acquiring services in support of Europe’s direct-to-consumer (D2C) market.
See more: PingPong Teams With BNP Parisbas on Acquiring Services
PingPong said at the time that global eCommerce is expected to reach $5.5 trillion this year, with European eCommerce sales on pace to almost double from 2019 to 2025.
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