PingPong and Uncapped offer cash advances to online sellers

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Chinese payment processor PingPong Payments partnered with a fintech lender Uncapped in a partnership that will allow PingPong customers to access a capital advance.

PingPong’s e-commerce customers will be able to secure between €10,000 and €10 million through Uncapped, which allows businesses to borrow money against future earnings without having to give up an equity stake. Candidates must have at least six months of business history and already generate €10,000 in monthly income.

According to PingPong Payments, the capital will make it easier for online sellers to grow their business, as financial liquidity often becomes an issue. “The opportunity for a fast, low-cost funding channel is a great way to increase merchants’ chances of success,” says the Hangzhou-based payments provider.

“A significant offer” for PingPong customers

Chunhe ZhangManaging Director of PingPong Europe, says, “With Uncapped, PingPong is making a meaningful offer for PingPong customers to receive quick financial support, which would be key to their business success in the e-commerce world. The partnership is a milestone that means PingPong further steps towards comprehensive services for e-commerce sellers in Europe.”

CEO uncapped Piotr Pisarz adds, “We are excited to launch our strategic partnership with PingPong, a global leader in online payments. Our collaboration provides merchants with the payment methods, tools and capital they need to scale. Uncapped exists to help founders up for grabs, and our combined offering will allow entrepreneurs to do just that.”

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