- Embedded finance innovator mmob announced a partnership with U.K.-based fintech Satago.
- The partnership will make it easier for lenders and corporations to integrate Satago’s cash flow and invoice financing solutions for SMEs.
- mmob won Best of Show in its Finovate debut at FinovateEurope 2022.
Embedded finance specialist mmob has forged a partnership with U.K.-based fintech Satago. The partnership will help lenders and corporates more easily integrate and embed Satago’s Invoice Finance and Cash Flow solution – including its 3-in-1 Working Capital solution. This is courtesy of mmob’s hyper-efficient, “single snippet of code” integration that reduces the time required to embed Satago’s technology to “mere hours.”
After it has been embedded, the solution then enables SMEs to access Satago’s Invoice Financing, Risk Insights, and Credit Control offerings via their digital channels. Automatic, periodic updates ensure that the technology scales and optimizes as the business grows and expands.
“Satago’s invoice financing and cash flow management solution is a vital tool, and we are delighted to be able to help them integrate into SME-facing platforms at speed,” mmob Founder and CEO Irfan Khan said. “Mmob’s universal API adaptor removes the barriers of time and cost for companies who want to add a new solution for their customers, so now it’s easier than ever to work with Satago.”
Satago leverages real-time data, Open Banking, and API technology to help lenders and other businesses streamline operations, increase revenues, and improve the customer experience. Its 3-in-1 Working Capital solution combines invoicing financing, risk insights, and credit control to enable lenders to offer faster financing, control credit risk, and get repaid sooner. In February, the company announced that it was joining NayaOne’s Tech Marketplace. Founded in 2012, Satago was acquired by Oxygen Finance in 2017.
Headquartered in London and founded in 2020, mmob won Best of show in its Finovate debut at FinovateEurope 2022. At the conference, the company showed its Intelligent Partnerships Infrastructure, which enables third-party providers to leverage no-code tools to build and deploy digital customer experiences. The solution includes an Analytics Module that allows companies to analyze both user behavior and revenue to further innovate and enhance the user experience.
mmob has raised $6.2 million (€5.8 million) in funding, according to Crunchbase. The company’s financial backers include high net worth individuals, banking executives, as well as angel investors.