In 2021, eBay wanted to launch a funding solution for sellers that could help SMEs maintain cashflows and keep up with challenging business demands. The main objective of the initiative was to support small businesses and nurture long-term relationships between eBay and the sellers on its platforms.
To achieve this, eBay wanted an embedded finance solution that was simple and delightful to use, with flexible repayment terms and not tied to their own capital
After an in-depth selection process, eBay chose YouLend to power its flagship "Capital for eBay Business Sellers" programme.
Launch of "Capital for eBay Business Sellers"
eBay successfully launched its financing solution for 200,000 sellers in the UK, powered by YouLend. YouLend's funding infrastructure would fully integrate in the eBay journey to create a smooth and efficient journey for the seller.
By leveraging the data shared through this integration, YouLend was then able to provide business funding to as many sellers as possible, with competitive terms, and with same-day approval.
Through a fully eBay-branded funding application portal, the sellers could apply for capital in a few clicks, select a quote, and receive funds in their business account. This typically took under 24 hours and YouLend was able to provide full underwriting, KYC and credit-risk assessment for all sellers on behalf of eBay.
Since launching in April 2021, "Capital for eBay Business Sellers" has extended 7,100 total loans to over 4,000 unique sellers with over £65M in funding to date. The programme has met with huge success and maintains a 75% renewal rate as sellers are able to repay the funding with revenue-based repayment schedules tailored to their needs.
With this launch, eBay was able to improve its user experience and obtain a powerful new advantage over other competitors in the ecommerce marketplace.