Automotive BNPL firm Payment Assist opens business lending division
Payment Assist, the UK's leading provider of Buy Now Pay Later (BNPL) and retail finance solutions for the automotive sector, has announced the launch of a business lending division, expanding its offering to include merchant cash advance, business loans, invoice finance and business credit cards.
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The move marks a major step forward in Payment Assist's mission to support the full financial needs of garages, dealerships and workshops across the UK. Automotive businesses will now be able to access fast, flexible funding options directly through Payment Assist, helping them to invest in new tools, expand operations and manage cashflow with ease.
"This is more than just a product launch, it's a natural evolution of how we support the industry," said Marcus Gregory, CEO of Payment Assist. "By offering broader finance solutions alongside our core BNPL platform, we're making it easier than ever for our merchants to grow with confidence."
Groov partnership powers smart access to finance
To deliver these new lending services, Payment Assist has partnered with Groov, an embedded finance platform that connects businesses to a curated network of top UK lenders, including YouLend, 365 Finance, iwoca, Capital on Tap and Capify.
Through Groov's advisory layer and live offer comparison tools, merchants can link their account, instantly view tailored funding options and select terms that suit their needs, all in one place.
'With Groov's smart infrastructure behind us, we can deliver the speed, insight and simplicity that our customers need,' Gregory added.
Mark Hazzard, CEO and Founder of Groov, concluded: 'At Groov, we believe in making capital both smart and accessible. Partnering with Payment Assist means combining deep BNPL expertise with intelligent lending technology to bring meaningful impact to automotive merchants.'
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