Melbourne, Australia, January 2020 – Signarama, the world’s largest sign franchise, has joined a fast-growing number of businesses now offering Moula Pay.
Moula Pay is a payments solution empowering businesses to get paid upfront, while offering better payment terms to their B2B customers.
With Moula Pay, businesses can purchase goods and services, and enjoy nothing to pay for the first three months.
Since launching just over a year ago, adoption of the product has exceeded expectations. In the 12 months to November 2020, Moula Pay has seen a 535 per cent increase in Merchants onboarded, including large-scale B2B players such as The Australian Reinforcing Company (ARC) and Midalia Steel, both part of the GFG Alliance.
Moula CEO, Aris Allegos, said the platform plugs a gap in the market between trade credit and traditional cash flow funding solutions.
“From our experiences in data-driven lending, we understand what prevents Australian businesses from accessing finance, and have identified the need for a targeted solution that overcomes the shortcomings of trade credit,” said Allegos.
“Many businesses face challenges in offering extended in-house payment terms due to limited credit expertise and difficulty integrating new technology into legacy systems, while others simply want a traditional point of sale finance solution that allows their customers to repay at a later date.
“Moula Pay is a natural extension into a market with an appetite for flexible and affordable payment options.”
Evan Foster, Brand Leader for Signarama Australia, part of the United Franchise Group, said integrating with Moula Pay would help outsource the cost of credit management, and give their customers greater purchasing power.
“This enables Signarama customers to invest in marketing, with less concern over cash flow, at a critical time for Australian SMEs,” said Foster.
“Signage plays an important part in encouraging customers to vote with their wallets, as foot traffic returns, and businesses gear up to restart brand building initiatives.
“In addition, Moula Pay has already created a much-needed buffer for our more seasonal customers, enhancing their ability to capitalise on marketing opportunities while enjoying extended payment terms.”
Customers receive three months interest-free, and can repay early at any time at no extra cost. Eligible customers can access credit limits up to $250,000, making Moula Pay an attractive finance solution for large and lumpy business purchases.
Founded in 2013, Moula is committed to backing good business with finance solutions across lending and payments. Moula’s proprietary platform empowers Australian SMEs to access finance on better terms.
Head of Brand and Communications