Funding Circle, Enfuce to launch small business credit card

credit card

The FlexiPay card, developed through Enfuce’s MyCard service, will enable small businesses to make upfront payments directly to suppliers and cover expenses like stock, equipment and energy bills, according to the press release

Funding Circle, a U.K. small business lending platform, has collaborated with Enfuce, a provider of embedded finance solutions.

This partnership aims to launch a small business credit card as part of Funding Circle’s FlexiPay product, which offers small businesses in the U.K. a revolving line of credit (LOC) to manage their short-term cash flow requirements, the firms said in a Thursday PR.

The FlexiPay card, developed through Enfuce’s MyCard service, will enable small businesses to make upfront payments directly to suppliers and cover expenses like stock, equipment and energy bills, as per the release. The new feature expands Funding Circle’s offering, giving small businesses the flexibility to borrow, pay and spend with Funding Circle.

We have expanded our offering to meet more customer needs by giving them more ways to spend, Jerome Fernandez, MD of FlexiPay at Funding Circle, said in the release. We are pleased to be partnering with Enfuce in launching the card which is another milestone in our ongoing product development journey.

Enfuce’s card-as-a-service (CaaS) platform will support the launch of the FlexiPay card by providing small businesses with a physical, secure and flexible business credit card, as per the PR. Additionally, Enfuce’s MyCard service, a management app, will streamline the process of launching and managing the card app for firms.

This announcement comes after Enfuce’s successful entry into the U.K. market and the opening of a new office in London, according to the release. Enfuce, a Finnish FinTech firm, provides modular card issuing and payment processing solutions, as well as handling licensing, financing, compliance and fraud management.

Working with such a reputable British firm marks a vital step in our U.K. expansion plans, and we take great pride in furnishing the cards essential to help further drive the U.K. economy, Monika Liikamaa, co-founder and co-Chief Executive Officer of Enfuce, said in the release.

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