Wednesday 2nd September, 2020
Xero has announced the acquisition of Waddle a cloud-based invoice lending platform. Waddle helps connect small businesses to invoice finance, a form of secured lending that relies on a business’s unpaid invoices.
The acquisition of Waddle is an important step in our strategy to grow Xero’s small business platform and to help our customers better manage cash flow and gain access to working capital as needed, the company said.
Waddle’s lending platform has the potential to enable a wide range of banks, fintechs and other lenders to better support small business financial needs. We’re excited about the benefits Waddle can bring to small business and our banking partners.
Founded in Australia in 2014, Waddle’s lending platform service allows banks, fintechs and other lending partners to easily and quickly deliver invoice finance to small businesses that have elected to share their accounting data to enable a loan.