Peanuds, a leading provider of financial applications tailored for startups, freelancers, and small to medium-sized businesses (SMBs), has entered into a strategic partnership with Weavr, a prominent embedded finance provider.
Peanuds offers a robust suite of financial services, including payments, money transfers, and a team-based spend-management platform. These tools enable clients to create custom user profiles, assign dedicated payment cards, and utilise analytics for tracking. Weavr complements this by supplying all necessary financial infrastructure, such as virtual IBANs, physical and virtual cards, and multi-currency support.
The partnership aims to address significant gaps in financial services accessible to SMBs, particularly in regions like Cyprus, Malta, and Portugal, known hubs for digital-nomad businesses. Local banking systems in these areas often fall short of meeting the dynamic needs of today’s e-commerce companies and digital agencies. Peanuds, leveraging Weavr’s technology, aims to fill this void by providing a comprehensive financial superapp that offers various services under a single login.
Peanuds utilises a fully modular architecture that allows for the integration of various financial service providers, tailoring its offerings to meet diverse customer needs through a single platform. Weavr’s technology plays a crucial role in this configuration, especially its Open Banking framework, which is vital for creating a centralised financial ecosystem.
Peanuds’ co-founder, Florian Reike, expressed enthusiasm about the partnership, stating: “We are super happy to collaborate with Weavr. Their top-notch technology and guidance allow us to deploy new capabilities and features in a very fast and agile manner. This product would not be possible without embedded finance. After extensive research, Weavr was clearly the best partner for us to launch with for our target market.”
Echoing this sentiment, Alex Mifsud, Co-founder and CEO of Weavr, remarked: “Peanuds’ comprehensive suite of payment functions, combined with our embeddable financial solutions, showcases the true potential of embedded finance, particularly in the supplier finance realm. We are excited to support Peanuds in solidifying its position as a finance platform tailored specifically for a currently underserved target market, and look forward to the positive impact this partnership will have on its users and the broader market.”
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
