- Finiata – a fintech from the Manta Ray portfolio – thanks to integration with the Saly.pl sales platform, will support with financing in the embedded lending formula hundreds of domestic micro, small and medium-sized companies shopping in online stores using Saly solutions.
- Cooperation in the area of e-commerce for B2B is intended to provide business customers with a "one-stop-shop" for both purchasing management and optimization of the payment process, offering working capital financing for companies from the SME sector and minimizing the path they have to go through to finance your purchases.
- The partners expect that up to 30 percent all B2B orders carried out on a deferred basis can be paid thanks to the Finiata solution. The integration will give buyers easy access to cash at the time of purchase, removing the risk and costs from companies providing Finiata as a payment method.
Buy now pay later for business
Finiata started its operations in 2016 by providing factoring services. Two years later, they were transformed into the FlexKapital revolving financial line for freelancers and SMEs. By adding further improvements to the offer, the fintech turned to business customers with a ready-made solution under the grey- and white-label model. In this way, it develops embedded lending in Poland, which involves embedding financial products directly where there is an actual need to pay for the purchase.
– Embedded lending and BNPL are not the core of our business model, but a natural direction consistent with Finiata's mission, within which we want to support SMEs with flexible and accessible financial tools. Through cooperation with Saly, we offer corporate clients modern financing designed with the complexity of B2B transactions in mind. An entrepreneur who needs money, e.g. to purchase equipment for his company, can obtain it quickly directly on the purchasing platform provided by Saly – says Anna Kozłowska, CEO at Finiata. – Looking at the market that is primarily rich in payment facilities for consumers, similar solutions for companies are not yet that popular in Poland. Those currently available are based largely on factoring or the RBF model, where repayments are collected from daily transactions. From the point of view of platforms implementing such payment methods for their B2B clients, they often have to share in the risk to some extent, and therefore bear part of the cost of launching such a service. This makes marketplaces, but also manufacturers, wholesalers and distributors operating online, reluctant to use this type of solutions. In our case, Finiata takes on the entire risk by granting financing, he adds.
Finiata will provide stores from the Saly.pl portfolio with a new payment method, which means that the buyer can apply for an external merchant limit of up to PLN 100,000. PLN. This option will be available in the shopping cart, next to traditional payment methods. Thanks to the integration, stores that will launch the new service will receive payment for purchases via Finiata without incurring any risk or implementation costs. The expansion of the offer is expected to increase the efficiency and competitiveness of the platforms, but also the value of shopping baskets and reaching new customers. It is also about ensuring data consistency between the B2B platform and the fintech servicing the credit line and, importantly, responding to the growing interest in both the B2C and B2B worlds in convenient services in the area of deferred payments.
Thanks to the fully automated and AI-based process, business customers with a granted limit will be able to immediately pay for purchases in a store using Saly software, and still use the rest of the money for current business needs, including: settling bills, paying salaries or investing.
– The client can use the Finiata platform as a purchasing portfolio in which he will consolidate all company expenses, which will further simplify the management of the company's finances. The amount used from the limit will be divided into installments charged automatically from the card. Each repayment of the capital will bring it back to the limit, and the entrepreneur will be able to use the funds again – explains Anna Kozłowska.
Saly includes financing from Finiata
Saly.pl solutions are currently used by, among others: Apricots, Gomla or Esotiq. For this type of entities, Saly.pl serves as a sales and analytical tool, while for corporate buyers it is an intuitive platform for placing online orders. And these are still growing. According to the e-Chamber report "A decade of Polish e-commerce", approximately 150,000 companies sell products and services online. Polish entrepreneurs, while the percentage of online shoppers has increased over the last decade from 45 to as much as 87 percent.
– I have no doubt that e-commerce is a key place for running and developing business in Poland. To maintain the level of turnover, e-shops must offer their contractors increasingly better and more attractive services. We have been observing for a long time that our clients are looking for solutions that would allow them to effectively manage the financial risk associated with handling payment terms. Finiata has not only developed an innovative solution that makes this possible, but above all limits formalities to an absolute minimum. At Saly, we strive to provide our clients with innovative tools tailored to the B2B segment. Now they not only receive an innovative sales platform, but also an easy-to-configure, free solution, thanks to which they can significantly reduce financial risk and strengthen the loyalty of customers who value adaptability and are looking for modern products – comments Sebastian Religa, vice-president of the management board of Saly.pl, providing software to dozens of online stores, serving a total of approximately 3,000 B2B customers who complete over 2,000 orders per month.
The new partners expect that in the initial phase it will be close to 10%, and ultimately at least 30 percent all orders placed on a deferred date can be paid thanks to the Finiata solution. After selecting the goods, payment method and entering the data by the borrower, the information is transferred to the Finiata scoring system, which, thanks to the methodology based on AI algorithms, takes into account up to several thousand data records when calculating the risk. Thanks to this, it can assess the company's creditworthiness in a few minutes, positively classifying entities that would most likely be rejected in a standard banking process. Funds can be withdrawn within a few minutes of submitting the application. This is important because the SME segment constantly faces problems with access to capital and liquidity management.
– At Finiata, we know that quick access to capital is worth its weight in gold for SMEs, especially since, according to the latest "SME Scanner" study, as many as 94% of companies are currently struggling with payment backlogs. enterprises in Poland. That is why we direct our financing to companies regardless of the industry in which they operate. We provide capital support to both JDG and companies with a three-month history of revenues. Thanks to modern forms of financing based on innovative and very precise scoring, companies can also count on quick and, above all, accessible financing, without unnecessary paperwork. So far, fintech has paid out more than PLN 330 million to B2B customers – emphasizes Anna Kozłowska.
As part of the partnership with Saly.pl, Finiata will not only enable obtaining a personalized financing offer, but also the implementation of technology that significantly reduces the risk of trade credits granted, which are increasingly popular in B2B relationships. The Copernicus algorithm developed by fintech combines two important functions – both an empirically trained risk assessment tool that processes huge amounts of data in real time by analyzing patterns, trends and historical events, and protection against fraud thanks to a detailed KYC (know-your- customers).
Finiata and Saly
Finiata is a fintech founded in 2016 in Germany by a team of international experts, a portfolio company of the Manta Ray fund. It specializes in financing small and medium-sized enterprises (SMEs), offering a range of advanced products. It also develops embedded lending for the B2B sector. Based on proprietary tools for analyzing the credibility of business customers and assessing credit risk using artificial intelligence, it provides various forms of financing, such as an external trade limit or a revolving credit limit and other B2B payment methods.
Saly is a producer of e-commerce software offered in the SaaS model for the B2B sector. The Saly.pl platform includes both front-office for merchants and back-office for sellers, including the ability to conduct sales analyses. The system's recipients are primarily medium and large producers (from various industries) and large distributors, which include, among others: Morele.net, 3MK, Homela or Esotiq.
