New customer agreement establishes Sileon's BNPL SaaS platform in emerging markets
Sileon has signed a new three-year BNPL SaaS agreement with the Spanish organization Inclusivity. Inclusivity offers democratic access to technology and innovation through microfinance solutions in Africa and Latin America.
Inclusivity's projects include everything from mobile apps that facilitate access to healthcare and education to payment and payment plans via Whatsup, as well as digital platforms that enable small producers to reach broader markets. For example, Inclusivity contributes by supporting financial technology for a cooperative with 300,000 women in Peru. Another project covers several countries in Africa where they provide technical and financial solutions to the postal industry and micro-enterprises.
Through Sileon's BNPL SaaS technology, Inclusivity is given the scalability and flexibility the organization needs to provide BNPL products in all markets where they contribute to financial inclusion. The first project to incorporate Sileon's BNPL technology is scheduled to be operational in Mexico in March 2024. Sileon's BNPL SaaS agreement includes a variable fee per transaction, as well as a fixed fee per month.
"Through the collaboration with Sileon, BNPL becomes an innovative tool for financial inclusion. This collaboration is inspired by, among other things, Agenda 2030 and aims to develop new BNPL products and services that promote hope and new opportunities for billions of people and micro-entrepreneurs," says Antonio Sainz, CEO of Inclusivity.
"The agreement with Inclusivity demonstrates the power of Sileon's international BNPL SaaS platform. This agreement and collaboration mean the opportunity for large transaction volumes. At the same time, we are incredibly proud that our modern BNPL SaaS technology contributes to financial inclusion," says David Larsson, CEO of Sileon.
For more information, please contact:
David Larsson, CEO, Sileon AB
E-mail: david.larsson@sileon.com
Phone: +46 725 502 306
About Sileon
Sileon AB (publ) is a global fintech company that offers an innovative card-based Buy Now Pay Later (BNPL) SaaS functionality to banks, card issuers and fintechs. With Sileon’s BNPL product, customers can add BNPL to their existing credit or debit card base and run their B2B or B2C BNPL business in-house. Sileon operates in a fast-growing international market with an estimated transaction volume of $680 billion globally by 2025. Sileon is listed on the Nasdaq First North Growth Market and has approximately 50 employees at its headquarters in Stockholm, Sweden. The Company’s Certified Adviser is Carnegie Investment Bank AB (publ).
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