Liberis, the global leader in embedded business finance solutions, announces its expansion into the Canadian market, marking a significant step forward in providing small businesses in Canada access to faster and more flexible funding.
Between 2012 and 2022, the share of small businesses seeking finance in Canada increased from 35% to 58%, according to the Canadian Federation of Independent Business. Despite SMBs’ need for financing, the cost of borrowing through traditional lenders has increased over the past three years1, making access to finance more challenging for SMBs.
Liberis launches in Canada with its partner Vagaro, a leading comprehensive business management platform for the beauty, wellness, and fitness industries. Liberis’ platform has enabled Vagaro to launch their offering, Vagaro Capital, into three new markets within three months: US, UK, and Canada.
Liberis’ platform allows partners like Vagaro to support small business owners in accessing fixed-cost financing with flexible payment terms. Liberis’ platform allows their partners to run the entire approval and underwriting process within their own ecosystem, allowing small business owners to receive the funds they need in as little as four clicks.
“Lack of funding is a significant challenge felt by businesses globally, particularly SMBs”, said Rob Straathof, CEO of Liberis. “By expanding into Canada, we are furthering our mission to alleviate the strain which lack of funding has on SMBs and local economies globally. This expansion is a testament to our commitment to expand into every market across the globe and ensure that SMBs can access the funding they need when they need it.”
Liberis will continue its global expansion with new and existing partners into Germany, Poland, Norway, and Iceland in the first half of 2024 to provide small businesses with more flexible and faster access to the funding they need to grow.