June 20, 2024

Mergers & Acquisitions

Ampla Steps into BNPL With Upside Acquisition

Ampla Steps into BNPL With Upside Acquisition

To make a mark in the Buy Now Pay Later market for B2B transactions, Ampla Tech has acquired Upside Financing. The fresh concept will be based on Upside’s current product. It also stretches repayment schedules for businesses looking to align their repayments with their cash operating cycles and allows enterprises to repay flexibly.

Ampla clients will have the option to submit invoices from debtors. After uploading invoices, Ampla Pay Later will proceed to make payments on behalf of these customers using the Ampla Pay Later platform.

Companies will have the option of transferring money on extended schedules ranging from a month to 120 days. So, this platform will assist in the preservation of capital and the smoothing of turbulent cash flows.

The Chief Executive Officer of Ampla Technologies, Mr. Anthony Santomo, said that the new platform would allow businesses to maintain working capital using a smoothly functional line of credit. Mr. Nicholas Mares- the Chief Executive Officer of Upside, stated that this development would take their product to a broader market and provide existing customers with various financial tools.

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