London-based lender iwoca has announced the integration of its innovative B2B payment solution with the widely-used ecommerce platform, Shopify. This strategic move aims to simplify the payment process for thousands of small to medium-sized businesses (SMBs) that rely on Shopify to run their online stores.
iwoca, renowned for its commitment to supporting SMBs, recognizes the importance of providing flexible financing options and removing barriers to growth. By integrating their payment solution with Shopify, they aim to provide SMBs with the means to accelerate their growth, improve cash flow, and manage expenses more efficiently.
The new integration will enable Shopify merchants to seamlessly access and utilize iwoca’s B2B payment solution. Merchants will be able to leverage flexible credit lines, invoice financing, and purchasing cards, all from within their Shopify dashboard.
Benefits for Shopify Merchants
With this integration, Shopify merchants can enjoy a range of benefits:
- Access to flexible credit lines: Merchants can apply for and access flexible credit lines directly through their Shopify account. This allows SMBs to respond to market demands, invest in growth opportunities, and increase inventory as and when needed.
- Invoice financing: When merchants fulfill orders, iwoca can advance up to 100% of the invoice value, enabling businesses to bridge cash flow gaps and maintain a healthy balance sheet.
- Purchasing cards: Shopify merchants will also have the option to apply for iwoca purchasing cards, providing a secure and flexible way to manage recurring expenses and avoid late payment penalties.
- Improved cash flow management: By streamlining the payment process and offering tailored financing solutions, iwoca aims to help merchants improve cash flow, reduce financial stress, and ultimately, facilitate business growth.
How the Integration Works
To take advantage of this integration, Shopify merchants simply need to follow these steps:
- Log in to their Shopify account and navigate to the “Payment Providers” section in the settings.
- Find ”iwoca” in the list of available payment providers and click “Activate.”
- Provide the necessary information to verify and link their iwoca account.
- Once the integration is complete, merchants can access and manage their iwoca financing options directly from their Shopify dashboard.
About iwoca
iwoca, founded in 2011, aims to empower small businesses with access to finance by providing fast and flexible funding solutions. The company utilizes advanced technology and data-driven processes to make financing more accessible and straightforward for SMBs across Europe.
Having facilitated over £2 billion in funding to date, iwoca has established itself as a trusted lending partner for thousands of businesses. By integrating its B2B payment solution with Shopify, iwoca strengthens its commitment to supporting SMBs, helping them navigate financial challenges and drive sustainable growth.
With the integration live, Shopify merchants can now take advantage of iwoca’s comprehensive suite of financing solutions. This partnership marks an important milestone for both companies and opens up new opportunities for SMBs to thrive in the highly competitive ecommerce ecosystem.