Berlin-based fintech Banxware and PrestaShop, an open-source e-commerce platform for running online stores, announce their collaboration to provide German online retailers quick, easy and convenient access to liquidity.
In the future, Banxware will offer PrestaShop merchants express financing with flexible terms. Financing is granted in realtime based on recent sales of PrestaShop merchants.
In the Addons Marketplace, where additional modules for PrestaShop online merchants are offered, there is now also the possibility to obtain financing from Banxware in the "Services" category. Via the product page, online merchants are directly redirected to the application route to apply for financing. The digital application process for BusinessFunding takes only 15 minutes and is free of charge. If the review is positive, the money is paid out within a few hours.
Banxware, known as a revenue-based finance provider, makes the financing decision based on innovative analytics and AI-based technology and incorporates the forecast of future online store sales into the financing decision. In this way, Banxware helps PrestaShop online retailers achieve sustainable growth.
"Our partnership with Banxware is another example of our commitment to providing our merchants with access to funding and the ability to support their growth,” said Michael Casson, Head of Partnerships& Business Development – EMEA & APAC at PrestaShop. “With Banxware, we have found the right provider for the German market who shares the same desire of supporting our merchants to increase sales and grow faster to maximize their success. We look forward to working together to become the growth partner for our merchants.”
Overall eCommerce experienced strong growth during the COVID-19 pandemic and established itself as a prominent pillar of the economy during the crisis. Platforms are increasingly recognizing the embedded financial service trend to support their merchants and gain a competitive edge over the competition.
"With unprecedented demand for eCommerce accelerated by the COVID-19 pandemic, we are glad and excited to partner with one of Europe's leading store system providers, PrestaShop, to provide new ways of financing to German merchants. Together we are growth partners for Prestashop merchants and help meet the rapidly increasing demand in eCommerce.Our joint offering is from the ground up merchant-centric designed with the core principles: simplicity, convenience, and speed." says Fabian Heiß, Co-Founder & Chief Product Officer at Banxware.
With BusinessFunding from banxy by Banxware, PrestaShop online merchants can increase inventory, offer new products, hire more employees, advertise online and much more.
PrestaShop was founded in 2007 with a mission to provide world-class e-commerce software through open source innovation. Today more than 300,000 e-commerce stores run on PrestaShop technology. The company provides software that enables users to have an online store at the lowest cost possible. The PrestaShop open source community includes 1,000,000 merchants, developers, and web agencies from around the world. PrestaShop is the proud 2014 winner of two CMS Critic Awards for Best eCommerce Solution for SMBs, and Best eCommerce solution for the Enterprise. The company has offices in the US and France and is funded by Serena Capital, XAnge Private Equity, and Seventure Partners.
Banxware is a Lending as-a-Service provider that enables digital platforms such as marketplaces and other aggregators like PSPs to offer embedded financing in real time to its business customers. The company is headquartered in Berlin and was founded in 2020 by Miriam Wohlfarth, Jens Röhrborn, Fabian Heiß , and Nicolas Kipp.