Vagaro, a leading business management software for the beauty, wellness, and fitness industries, has officially launched a partnership with Liberis, a leading global embedded business finance platform, to offer revenue-based finance to the more than 220,000 service providers using Vagaro.
This product, known as Vagaro Capital, is designed to help small businesses by leveraging the funding needed to grow. Revenue-based finance is an alternative finance product where eligible merchants can receive an advanced sum of money with the stipulation they will pay back the sum in addition to a pre-agreed fee. Within the first month of launching, Vagaro Capital provided nearly $3 million in funding to over 200 merchants.
Merchants can complete a quick approval and underwriting process and receive the funds within hours of applying. The entire process is managed within Vagaro’s ecosystem. It offers fixed-cost financing with flexible payment terms – allowing business owners to access the funds they need, when they’re needed, in just four clicks. Plans to expand this offering into the U.K. market are already underway.
Fred Helou, CEO of Vagaro, says: “Our team is excited to witness the future expansion of our businesses, made possible by the financial flexibility provided by Vagaro Capital. It’s always beyond rewarding to see our business owners able to achieve their business growth goals.”
Rob Straathof, CEO of Liberis, commented: “We are thrilled to help Vagaro’s merchants further grow their businesses. As an embedded offering, Vagaro’s customers obtain access to personalised finance, whenever they need it and for the right opportunities, helping their businesses grow faster.”
Vagaro has helped its businesses book more than 600 million appointments and has processed over $15 billion in payments. The company, which was founded on a strong customer-first principle, continues to nurture its vested interest in the success of its users by consistently implementing solutions to help businesses grow.
In November of 2022, Vagaro introduced Vagaro Pay Later, which offers higher conversion rates and a higher average ticket value for businesses and more flexible payment options for consumers.
Liberis has funded almost $1bn in over 55,000 transactions and customers give Liberis’ innovative funding a 4.9 out of 5 stars rating on Trustpilot saying that the financing received helped them grow by allowing them to invest in marketing, product development, and infrastructure upgrades. Alongside Barclays and BCI Finance, Liberis is backed by investors including UK-based venture builder Blenheim Chalcot and US-based growth investor FTV Capital.
About Vagaro: Vagaro, Inc. is the leading business management and payment processing platform, and online marketplace for the beauty, fitness, and wellness industries. Service professionals in the United States, Canada, the United Kingdom and Australia use Vagaro to manage, market and grow their business. Consumers choose Vagaro to search for and book wellness services on any device. To learn more, visit Vagaro.com and https://www.vagaro.com/pr
About Liberis: Liberis builds flexible embedded finance solutions that empower businesses and provide positive impact. Founded in 2007, Liberis is a leading global embedded finance platform with a mission to provide small businesses with accessible and responsible finance, based on the belief that funding should always be a positive force for small businesses. Liberis provides partners with the technology platform and financial solutions to offer hyper-personalised and accessible funding, empowering their small business customers to grow their revenues. With over 15 global strategic partners and direct reach to more than 1 million small businesses, Liberis has provided nearly $1bn of funding in over 50,000 transactions, enabling over 100,000 jobs to be created and saved. Liberis’ revenue-based finance is a form of receivables finance, not a loan. Amounts advanced are subject to status and our underwriting process before any offer can be made.
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Originally posted on Salon Today
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