Global financial technology platform, Adyen has launched Capital in Australia, a product that enables businesses on Adyen for Platforms to offer timely access to funding for their small and medium-sized businesses (SMB) users.

Research conducted in partnership with Boston Consulting Group finds that 59% of SMBs in Australia are interested in financial services embedded within a platform. To capitalise on this opportunity, Adyen has developed a funding offering that, together with embedded payment solutions, enables platforms such as Epos Now, Next Order, and OrderBuddy to deliver more value to SMB users. 

SMBs are generally underserved by traditional financial services when it comes to liquidity needs, either by having no access to funding at all, cumbersome applications, or inflexible or costly terms. Capital uniquely brings simplicity to business funding access for users of platform businesses.

Capital enables platforms to proactively offer business financing to their SMB users based on historic payments data. If SMBs see an offer, this means that they can take the offer and the funds can be paid out quickly to them, simplifying access to funding, which can be deployed for any business purpose. Repayments are collected from incoming payments. Users pay a one-off, fixed fee with no interest or hidden costs.

Adyen Australia and New Zealand country manager, Hayley Fisher commented, “No one understands SMBs better than our platform merchants, and we’re proud to help them offer more value embedded in their ecosystem by using Adyen – from processing payments to facilitating funding for their users.”

Epos Now chief product officer, Nathan Gill said, “Working with Adyen to power our Epos Now Payments has simplified the onboarding and integration experience for our users, and we’re excited to offer access to funding for our Australia users through Capital.”

Next Order co-founder, Will Richards said, “Our mission is to enable restaurants to embrace every part of their business with software that enables them to grow. In partnering with Adyen, we are now able to deliver on that promise by integrating financial solutions for our customers, from payments to funding. Capital stands as a transformative initiative that helps our customers tackle funding issues for day-to-day contingencies without the one to two-week wait they’d expect with traditional banks.”

OrderBuddy CEO and co-founder, David Yang added, “We’re all about helping our customers streamline their business. F&B margins are razor thin, and every element from front to back-of-house has a direct impact on the bottom line. We’re excited to partner with Adyen to offer Capital to our customers so they can focus on providing a great dining experience and growing their business.”