YouLend announces strong performance, reaching 150,000 SME fundings since its inception
LONDON, Dec. 14, 2023 /PRNewswire/ -- YouLend, the leading global embedded financing platform, has reached a major lending milestone, successfully providing 150,000 instances of funding to small to medium-sized enterprises (SMEs) across the UK, EU, and the US, since its launch in 2015. It's estimated that YouLend-backed SMEs have contributed £6.8 billion in revenue to the GDP across our core markets, and have experienced a 26% uplift in sales in the 6 months following funding.
The funding milestone follows YouLend's successful expansion in recent years into the US and major European markets, including Germany, Netherlands, Poland, and Spain. In addition to expansion, YouLend has also seen sustained growth in the UK and Ireland, making it one of the largest embedded finance platforms globally. The growth has accelerated from newly secured partnerships with leading ecommerce and payments platforms such as Amazon, Just Eat Takeaway.com, and Dojo.
YouLend recently published an impact report, The Widening Access to Capital Report, which found that YouLend attracted 12% more applications from female-led businesses and was more than twice as likely to finance female-led businesses than the UK average.
The report also indicated that YouLend makes fast, accurate lending decisions thanks to its sophisticated, AI-driven decision-making model which leverages a broad range of financial data to paint an accurate picture of a business's health. This enables a 90% approval rate for YouLend applicants - well above the 64% average in the UK SME lending market.
The unbiased model also enables YouLend to grant financing to SMEs who have been underserved by traditional finance providers. As a result, over half (58%) of YouLend's total 150,000 instances of funding went towards two of the most deprived regions in the UK, serving low-income business owners.
Jakob Pethick, Chief Commercial Officer at YouLend, comments: "This milestone underscores YouLend's growth across the US, UK, and the rest of Europe as we continue to invest in our platform.
"At the heart of our mission is a commitment to supporting businesses with finance wherever and whenever they need it. This is why we will continue to work with our strategic partners to empower businesses with fast, flexible, and fair financial products to grow and thrive."
Notes to editors
About YouLend
YouLend is the preferred embedded financing platform for many of the world's leading e-commerce platforms, tech companies, and payment service providers. YouLend's embedded finance platform offers fast, flexible, and fair financing to businesses, enabling YouLend's partners and their merchants to unlock revenue and growth opportunities globally.
YouLend has extended financing over 150,000 times to businesses across the UK, EU, and the US.
SOURCE YouLend
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article