Satago launches new ecosystem alongside Equals Group and partners
Satago Financial Solutions, or ‘Satago’, a subsidiary of (TRU ), a holding company for a range of lenders and early payment providers, has launched a new ecosystem - ‘the Satago Partner Ecosystem’ - made up of a collection of handpicked partners of the British financial institution.
The ecosystem’s partners include the likes of London-listed (EQLS ), a fintech payments group focused on the SME marketplace; Western Union; and Wise, formerly TransferWise.
The partnership will see Equals Money, amongst others, support Satago’s clients with their international payments. It will also collaborate together on hosting joint events and webinars; helping SMEs to finance their business and manage their cash flow cost-effectively, it noted.
Satago has described the firm’s new ecosystem as ‘a collection of handpicked Satago partners who share our ethos that UK businesses are the lifeblood of the UK economy.’
‘Each of the partners within the Ecosystem has been carefully chosen to ensure that their solutions help businesses gain insights, protect and manage their cash flow, allowing more time to focus on running the business. In addition, each listing comes with a unique offer for Satago customers, making their products and services affordable and accessible,’ it noted.
Satago’s incentive to form the ecosystem stems from its belief that more should be done to support SMEs in the UK: there are 5.6 million SMEs making up 99% of all UK businesses.
50,000 of these small businesses fail each year, just from late payments alone, it said. “This is where the Satago Ecosystem comes into play. Our collaborative partnerships give businesses easy access to essential tools and services that we know they need to thrive,” it told investors.
Speaking on the recent launch of the Ecosystem, Satago’s Chief Executive, Sinead McHale, outlined: “I am really excited to launch the Ecosystem alongside some of our key partners.”
McHale added: “We are so proud of the work that we do at Satago to help businesses manage their cash flow. But we know that small and medium-sized enterprises (SMEs) face all sorts of challenges on a daily basis when it comes to running their business. We also know that the partners listed on the ecosystem can solve many of these challenges.”
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