Lightspeed has expanded its merchant cash advance program, Lightspeed Capital, to Australia, New Zealand, the UK and Quebec.
Lightspeed is promoted as the unified POS and payments platform for ambitious entrepreneurs who wish to accelerate growth, provide the best customer experiences and become a go-to destination in their space.
Lightspeed Capital’s expansion to new regions aims to empower businesses with flexible funding in the face of rising inflation costs and turbulent economic conditions.
“Businesses are the backbone of our communities, and Lightspeed’s goal is to make owning a successful business easier than ever,” says Lightspeed Chief Financial Officer Asha Bakshani.
“We are thrilled to have expanded the Lightspeed Capital offering throughout Australia, NZ, the UK and Quebec.
“This expansion aims to empower merchants who want to invest in their business. Our goal is to help alleviate roadblocks that traditional funding channels may require so our merchants can continue to focus on what matters most: growing their business while providing the best customer experience.”
How it works
Lightspeed highlights how exactly Lightspeed Capital works:
- Cash up-front. The cash advance program provides working capital up-front to grow and support the merchant’s business.
- Predictable payments. Merchant payments are a percentage of their daily sales; they pay more when their business is doing well, and less if things are slow.
- Secure fees. Flat fees mean merchants don’t have to worry about fluctuating rates.
- Clear communication. Merchants receive notification, in app or by email, that outlines how much they’re eligible for as a cash advance and the flat fee.
- No deadline, no interest. Merchants remit at the speed of their business. With no strict deadline, merchants can gradually pay the advance as a percentage of their daily transactions.
