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Enfuce and Funding Circle team up to issue credit cards for SMEs

By Gloria Methri

November 16, 2023

  • Business Credit Card
  • Credit-Card-as-a-Service Solution
  • Embedded Finance

Funding Circle, Online Small Business Loans Platforms, Enfuce, Small Business Credit Card, Lending-as-a-service Program, Financial Institutions, Loan Management, UK, FinlandEnfuce, the provider of embedded finance solutions has partnered with SME lending platform Funding Circle, to launch its new small business credit card.

FlexiPay is a revolving line of credit that helps SMEs in the UK to spread a wide variety of business costs and manage their short-term cash flow needs.

By adding the new business credit card feature, Funding Circle has further expanded its offering to serve more of its customers’ needs, giving small businesses the flexibility to borrow, pay, and spend with Funding Circle.

Enfuce, the Card-as-a-Service platform is enabling Funding Circle to offer SMEs a physical, secure, and flexible business credit card. The FlexiPay card was developed through Enfuce’s MyCard service, a management app that enables companies to launch their own card app, helping streamline the process.

Small businesses can use the business credit card to make upfront payments directly to suppliers, and cover expenses like stock, equipment, and energy bills. FlexiPay also comes with a free ‘FlexiPay by Funding Circle’ app, which allows customers to pay bills, schedule payments and manage their line of credit, on the go.

Denise Johansson, Co-Founder & Co-CEO of Enfuce, said, “We are delighted to partner with Funding Circle to empower SMEs. This collaboration guarantees a steady cash flow and flexible repayment choices to small businesses when they need it the most, offering crucial breathing space for UK SMEs to achieve their full potential in a hassle-free and secure way.”

Monika Liikamaa, Co-founder & Co-CEO of Enfuce, said, “Working with such a reputable British company marks a significant step in our UK expansion plans, and we take great pride in furnishing the cards essential to help further drive the UK economy.”

Jerome Fernandez, Managing Director of FlexiPay at Funding Circle said, “We are really excited to have launched FlexiPay to help small businesses manage their cash flow, which we know is one of their biggest pain points. We have expanded our offering to meet more customer needs by giving them more ways to spend. We are pleased to be partnering with Enfuce in launching the card which is another milestone in our ongoing product development journey.”

This announcement follows a successful year of innovation and growth for Enfuce, as the Finnish FinTech recently entered the UK market and opened a brand-new office in London. Beyond providing its modular card issuing and payment processing solutions, Enfuce also handles licensing, financing, compliance, and fraud management.

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