EBay partners Santander-backed app to offer UK sellers loans

EBay partners Santander-backed app to offer UK sellers loans

EBay has teamed up with Santander-backed fintech app Asto to offer cash flow loans to the online marketplace's small business customers in the UK.

From later this year, Asto will offer loans to the more than 200,000 SMEs using eBay in the UK. To help make lending decisions, the Santander-owned app will access eBay data on SMEs sales and cash flow.

Paolo Levoni, COO, eBay, says: "Our partnership with Asto is designed to help our business sellers efficiently access cash loans to help them expand and manage cash flow - our latest step in helping small businesses in the UK to thrive."

The partnership sees eBay move into line with Amazon, PayPal and Square, which all offer their small business clients funding options.

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