YouLend seals £4 billion deal, extending SME financing alongside J.P. Morgan.

TL;DR:

YouLend, a global embedded finance platform, has secured a deal with J.P. Morgan to extend £4 billion in additional financing to small and medium-sized enterprises (SMEs). The financing will be accessible through partnered e-commerce sites, tech companies, and payment service providers. YouLend’s AI-driven decision-making model aims to improve financial inclusion by providing financing to underserved SMEs. The partnership supports YouLend’s ambition to offer competitive rates and terms to its global partners and their merchants.

Key points:

• YouLend has completed a private securitisation transaction with J.P. Morgan and Castlelake, L.P. to extend £4 billion in additional financing to SMEs.
• The financing will be accessible to SMEs through partnered global e-commerce sites, tech companies, and payment service providers such as Amazon, Dojo, eBay, and Just Eat Takeaway.com.
• The partnership with J.P. Morgan aims to close the funding gap for SMEs and boost financial inclusion.
• YouLend’s AI-driven model builds an accurate picture of a business’s health to provide financing to underserved SMEs.
• The deal supports YouLend’s goal of empowering businesses with access to seamless embedded finance experiences.
• By reducing YouLend’s cost of capital, the facility enables the company to offer competitive rates and terms to global partners and their merchants.
• Since its launch in 2015, YouLend has provided 150,000 instances of funding to SMEs across the UK, EU, and the US.

Full article: https://www.fintech.finance/01-news/youlend-secures-deal-with-j-p-morgan-to-extend-4-billion-in-additional-financing-to-smes/