Salad Africa, a fintech that provides embedded lending infrastructure to B2B marketplaces and technology-enabled SMEs, has formed a strategic partnership with Glovo to provide up to N100 million in financing for Small and Medium-sized Enterprises (SMEs).
Through this partnership, Salad Africa will power an SME financing program designed to provide eligible Glovo partners with access to working capital at better rates and more accessible terms than traditional banks. The goal is to help businesses scale faster, launch new products, and drive increased revenue, all within the Glovo ecosystem.
Qualified partners on the Glovo platform will be able to apply for loans ranging from N50, 000 to over N100 million, with eligibility and credit decisions powered by real-time sales data from the Glovo app.
Glovo said, “to qualify, merchants must have been active on Glovo for at least three months and meet the set performance and operational criteria. This data-driven approach ensures faster, fairer, and more accurate lending decisions.
“Once eligible partners are identified, they will receive a notification with Know Your Business (KYB) requirements and application steps. Upon KYB completion and approval, funds will be disbursed directly, with repayments made seamlessly as a percentage of future sales; processed entirely through the Glovo platform. Unlike standard financial institutions, this initiative offers loans without the need for collateral, using real-time sales data from the Glovo app to assess eligibility and creditworthiness.”
It added that this programme falls under the umbrella of Glovo Local, Glovo’s global program dedicated to empowering small and medium-sized businesses (SMEs) to thrive in the digital economy.
“Through Glovo Local, SMEs who make up 90 per cent of shops and restaurants on the Glovo app across 23 countries, get access to tools and support such as marketing, order management, visibility on the platform, training, and seamless financial support. As the first industry player in Europe, Africa, and Central Asia to support SMEs in this way, Glovo is driving growth, catalysing local economies, and promoting sustainable, inclusive businesses,” it stated.
The partnership between Glovo and Salad Africa represents a major step forward in supporting small businesses with the resources they need to grow sustainably and efficiently.
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