Vagaro has officially launched a partnership with Liberis, a global embedded business finance platform, to offer revenue-based finance to its service providers. Vagaro Capital is designed to help small businesses by leveraging the funding needed to grow, offering 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. Plans to expand this offering into the U.K. market are already underway.
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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 $1 billion in over 55,000 transactions. Alongside Barclays and BCI Finance, Liberis is backed by investors including UK-based venture builder Blenheim Chalcot and US-based growth investor FTV Capital.
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 personalized finance, whenever they need it and for the right opportunities, helping their businesses grow faster.”
