Cirralto has loaned $2 million to its long-term fintech partner Invigo aimed at expanding the customer bases of both companies.
Ltd () has loaned its long-term fintech partner Invigo $2 million as it seeks to extend strategic commercial funding programs and support the deployment of B2B buy-now-pay-later products.
The company and Invigo first formed a strategic partnership in August 2019, to launch an integrated platform for their respective customers to access.
supplies industries with a broad range of B2B payment services, digital trading software and integrated solutions, while Invigo provides easily accessible business finance and business management tools.
The $2 million loan is expected to “unlock multiple commercial payment and point-of-activity lending opportunities”, with a broad B2B BNPL pilot program with several retailers and manufacturers, including several hundred trading partners, to be undertaken as part of the deal.
Quick benefits to come
Cirralto CEO and managing director Adrian Floate said his company was delighted to announce the loan publicly, following months of collaboration and COVID-19 business disruption.
“This is a big step for us as a business and comes at the end of a long road of collaboration with Invigo that was interrupted by COVID,” he said.
“We will use the pilot to perfect our delivery of lending solutions at the point of payment within the SpendaCollect and SpendaPay products.”
