“Peanuds Partners with Weavr to Boost Financial Scalability for Startups”

Date – 15-Aug-2024

Peanuds, a leading provider of financial applications designed for startups, freelancers, and small to medium-sized businesses (SMBs), has announced a strategic partnership with Weavr, a prominent embedded finance provider.

Peanuds offers a comprehensive suite of financial services, including payments, money transfers, and a spend-management platform that supports custom user profiles, dedicated payment cards, and detailed analytics. Weavr complements these services with essential financial infrastructure, such as virtual IBANs, physical and virtual cards, and multi-currency support.

This partnership seeks to bridge significant gaps in financial services for SMBs, particularly in regions like Cyprus, Malta, and Portugal, which are key hubs for digital-nomad businesses. Local banking systems in these areas often struggle to meet the evolving needs of modern e-commerce companies and digital agencies. By integrating Weavr’s technology, Peanuds aims to provide a unified financial superapp that consolidates various services into a single, streamlined platform.

Peanuds leverages a modular architecture that integrates various financial service providers, tailoring its offerings to meet diverse customer needs through a single platform. Weavr’s Open Banking framework is crucial to this integration, enabling the creation of a centralized financial ecosystem.

Florian Reike, Co-founder of Peanuds, expressed enthusiasm about the collaboration: “We are thrilled to partner with Weavr. Their advanced technology and expertise enable us to rapidly deploy new capabilities and features. This product would not be possible without embedded finance, and after thorough evaluation, Weavr emerged as the ideal partner for our target market.”

Alex Mifsud, Co-founder and CEO of Weavr, added: “Peanuds’ extensive suite of payment functions, combined with our embeddable financial solutions, highlights the transformative potential of embedded finance in supplier finance. We are excited to support Peanuds in enhancing its position as a finance platform tailored to an underserved market and look forward to the positive impact this partnership will have on its users and the broader market.”