Planet partners with YouLend to bring embedded working-capital funding to merchants across Europe

Planet, a global provider of payments and software for retail and hospitality, has partnered with embedded financing platform YouLend to give small and medium-sized businesses in Europe access to working capital. It launches first in the UK, Ireland, the Netherlands, Belgium, France, Germany and Denmark, through Planet's existing payments and property management software relationships, with other European markets to follow.

YouLend runs underwriting, funding and servicing, and keeps all decisions on funding, pricing and terms. Planet connects eligible merchants through the channels they already use. Decisions can come in minutes or hours, funding is typically available within 24 to 48 hours, and repayments are linked to sales, with the total cost agreed in advance.

YouLend launched in 2017 and says it has funded more than 400,000 businesses across 10 markets. Planet's Chief Commercial Officer Colin Close said the deal puts business finance alongside services merchants already use.