Sigga Sigurdardottir, CEO of Asto

Online marketplace, eBay and the Santander-backed fintech, Asto, have partnered to offer cash flow loans to eBay’s UK network of small businesses. The partnership aims to ease cash flow pressures for eBay’s small business customers.

Paolo Levoni, eBay Chief Operating Officer, said: “eBay is passionate about helping small businesses succeed. We help power over
200,000 British SMEs, helping them grow through access to 180 million consumers in 190 markets across the globe. Our partnership with Asto is designed to help our business sellers efficiently access cash loans to help them expand and manage cashflow – our latest step in helping small businesses in the UK to thrive.”

Established in 2018, Asto aims to provide UK’s freelancers and small business owners with seamless access to financial services. The partnership, therefore, will enable eBay’s customers to access finance and keep their cash flow positive. It is a fintech venture of the Santander Group.

Sigga Sigurdardottir, CEO of Asto, commented on the partnership:“I am excited by the opportunity for Asto, as a fintech start-up, to partner with eBay, a global e-commerce platform that shares our ambition to help small businesses grow and thrive. Asto is built on the belief that no good business should fail for want of time, insight, support or access to finance. Working with eBay, Asto will empower small business owners with secure access to funds in a matter of minutes from their phone, versus traditionally several weeks.”

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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