Financing platform Debite targets booming UK startups space
Debite, a financing platform for early stage companies, has announced its UK launch.
The company says that its buy now pay later model means customers benefit from smoothing the cost of expensive business payments, such as subscriptions, marketing and inventory, via a flexible and affordable repayment plan.
It claims to offer “dynamic spending limits considerably higher than the typical loan and credit products available to this customer segment, with interest rates starting at 0%.”
Debite will initially offer two main products in the UK – Save & Spend Loans and Boosted Debite Card.
It has completed a £2.5 million pre-seed equity funding round, plus debt financing, from FinTech funds and angel investors, including backing from PlatformXit, co-founded by the former CEO of Mox Bank, one of the first neobanks in Hong Kong; the co-founder of e-wallet firm Papara; and QNBEYOND Ventures, the VC arm of QNB Group, a financial institution in the MENA region.
Debite CEO Tayga Baltacıoğlu says: “We are beyond excited to be making our vision a reality with the launch of Debite.”
“So many early stage companies start out with amazing ambitions and the potential to do incredible things, but issues with managing the heavy burden of operational costs, and a lack of attractive funding options from traditional lenders to help smooth cashflow, means that growth is often stifled.”
“We know this market is ripe for innovation and we have huge growth plans to meet this challenge. We cannot wait to fuel the success of the next generation of business champions.”
-
Southeastern Grocers, parent company of Fresco y Más, Harveys Supermarket and Winn-Dixie grocery stores, is deployi… https://t.co/Q5En8j6cEc -
Check out the week's coolest retail technology plays, including @obsessVR @OcadoGroup @AEON_JAPAN @braincorp… https://t.co/RH2BIf6Jol
-
RTIH presents the retail technology week in numbers, including @CovariantAI @RetailTechShow @DennysDiner… https://t.co/WURUUgdCr0
-
Our Editor @ScottThomps74 rounds up the biggest retail tech stories from the past week including @BootsUK… https://t.co/IWj7BebUB1
-
Out of style: five lessons fashion merchants must learn from the dramatic fall of In The Style. Including comment f… https://t.co/aoqsRk9OZ0
-
Japanese virtual sizing technology specialist Makip launches in the UK with focus on ‘online returns crisis’… https://t.co/QpE2uMB2So
-
UK supplement brands Free Soul, HUX Health and Misfits Health have partnered with one-hour and same-day delivery st… https://t.co/jYI2iiKZz8
-
RTIH asks major players in the #retail technology space for their thoughts on the sector, and throws in a random qu… https://t.co/bzBXNeySqQ
Continue reading…