Nigel Rutherford, CEO and Co-founder at Peeled, commented: “We started Peeled so that any brand could offer their customers a loan – quickly and simply, with minimal investment. Next month this becomes a reality with our UK launch”.
The regulation will allow the start-up to offer UK brands the ability to embed lending into their product or buying journey.
For Retailers, Peeled sits above the lower purchase price Buy Now Pay Later product, offering a branded ‘Pay with a loan’ option for larger value purchases where consumers find ‘Pay now’ today.
Peeled’s innovative platform shifts the point of loan arrangement to the brand, embedding a personalised, white-label, lending experience into their customer journey, and then connecting them with a panel of trusted lenders.
Low cost of entry, increased sales conversions and additional revenue are just some of the reasons attracting both retail and service brands to offer loans to their customers.
And for Service brands, including fintech’s, marketplaces, payment companies, insurance companies or other service businesses, Peeled provides the ability for these brands to add loans to their product offering.
“With Peeled, consumers no longer need to interrupt their buying journey or go elsewhere to arrange finance – we can help them right there and then – without leaving the brand’s website”. Rutherford continues. For lenders, the Peeled platform enables lenders to quickly connect with brands. The solution provides lenders lower cost, quality loan portfolio growth through a new, fully digital distribution channel.
Rutherford adds “We combine brands, a marketplace of lenders, and consumer lending technology that together deliver a simple, personalised borrowing experience for the consumer.”
Peeled is set to launch its first UK brand in November 2021. The pioneering fintech has already secured a panel of consumer finance lenders, with a promise of more well-loved brands embedding lending into their offering to follow in early 2022. Keep your eyes peeled!