In 2021, eBay started exploring new financing solutions to help their sellers grow their business. The team leading the initiative wanted to offer fast and flexible financing options to the sellers, but without the hurdle of long and complex application processes. Hence, after a thorough evaluation, eBay successfully rolled out “Capital for eBay Business Sellers” powered by YouLend to their UK sellers
Launch of "Capital for eBay Business Sellers"
Through the digital application journey, sellers were able to apply for financing in just a few clicks, select a quote and receive funds in their business account to power their growth. Some sellers could be funded on the same day, with the majority of sellers receiving funds within an average of 48 hours.
Since its launch in April 2021, Capital for eBay Business Sellers has extended over 8,000 business fundings to 4,750+ unique sellers, with over £75M in financing. The financing solution has been a huge success and boasts an impressive 75% renewal rate.
A seamless merchant journey
YouLend was integrated into eBay’s platform in order to provide a seamless customer journey that made it easy and quick for their merchants to apply and get funding. This was branded with eBay’s logo and color guidelines, making it feel as if the merchants never left the eBay ecosystem. This was set up in a matter of days with YouLend’s battle-tested codes.
“By partnering with YouLend, our sellers have access to fast and flexible business funding that can help them manage cashflows and focus on the bigger business challenges ahead.”
Head of Financial Services Partnerships, eBay