Merchant Growth, a leading Canadian financial technology lender, today announces the launch of its e-commerce financing platform to help support the unprecedented growth of e-commerce amid COVID-19.
With COVID-19 transforming e-commerce and driving a 126% increase in online sales across Canada, Merchant Growth has expedited its product roadmap to help support Canadian businesses with the financing they need to transition or double down on their e-commerce strategy.Fintech News
David Gens, Founder and CEO of Merchant Growth said that “We were working on our e-commerce lending platform before COVID-19 hit Canada and decided to prioritize its launch in the face of this shift to e-commerce that the pandemic has driven. It’s more important than ever that Canada’s digital businesses have quick and easy access to funds, so they can focus on growing and adapting their businesses. The funding we’re able to provide is well suited for scaling activities such as digital marketing, customer acquisition or purchasing inventory at reduced rates.”
Merchant Growth’s e-commerce lending platform is now available to e-commerce, SaaS, and other digital business owners in Canada that have been in business for more than 6 months, have average monthly revenue of more than $10K per month, and of course, are looking to grow.
Digital business owners that fit these criteria may be eligible for non-dilutive financing anywhere from $5,000 to $500,000 and can receive capital in just 24 hours.
Merchant Growth has built new API connection
s and will be applying 11 years of funding data to inform the underwriting of new e-commerce merchants. Unusual to e-commerce lending platforms, Merchant Growth will be offering two options to e-commerce businesses looking for financing: the percentage of revenue model as well as a fixed payment payback schedule.
The launch of Merchant Growth’s e-commerce lending platform comes at a key time for the company after experiencing exponential growth over the past two years. Over the past two years, Merchant Growth has landed itself on The Growth 500 list and built partnerships with numerous financial technology companies including Borrowell, FirmaFX and others.
Chandrima Samanta, Content-Editor, FintecBuzz
Chandrima is a Content management executive with a flair for creating high quality content irrespective of genre. She believes in crafting stories irrespective of genre and bringing them to a creative form. Prior to working for Hrtech Cube she was a Business Analyst with Capgemini.
