Solution

FruPro partnered with finmid to offer FruPay, enabling fast payments to suppliers through their marketplace. Through FruPay, FruPro pays suppliers within 48 hours of invoicing, mitigating collection risks and providing immediate liquidity for inventory management and operational scaling. “FruPay is a game changer for new trade relationships,” says Morley-Fletcher.

finmid’s B2B Payments also allow FruPro to extend payment terms to its buyers, aligning purchases with revenue generation. "Flexible payment terms are the future, and by adopting finmid’s industry-leading lending infrastructure, we empower both buyers and sellers on our platform to achieve operational efficiency.

finmid worked closely with FruPro to design and implement a solution that worked with FruPro’s existing operational workflows in record time. FruPro was able to start the integration to the first live transaction within just four weeks.

“finmid’s seamless API infrastructure helped us to implement FruPay in an operationally efficient way, and at speed. We can now capitalise on our opportunities”, says Kov Murugaratnam, CTO & Co-Founder at FruPro.

Results

FruPay has boosted trust between suppliers and buyers and conversion on FruPro’s platform. “The number of trades we’ve facilitated and the average order value has significantly increased since launching FruPay with finmid.” finmid's embedded finance solution increased marketplace conversion by 45%. FruPro also saw a 35% increase in average order value through their platform.

finmid’s embedded payments solution has also helped FruPro boost its value proposition as a marketplace. FruPay is now considered part of FruPro’s primary offering and is a crucial differentiator from its competitors.

“Both new and existing customers love FruPay. It will continue to be one of the key selling points going forward,” says Murugratnam.

A growth partnership

FruPro is now turning its sights to further expansion across Europe. The platform currently has buyers and suppliers in 23 countries and counting. finmid’s Pan-European coverage is extremely valuable to FruPro.

“New market expansion was always on the cards for us. So we needed a financing solution that would scale with us. finmid’s geographic coverage across Europe supports us to create new and improve existing relationships,” highlighted Morley-Fletcher. finmid also enables FruPro to facilitate multi-currency transactions through its platform without compromising speed or efficiency.

Most importantly, FruPro sees finmid as a true partner supporting Frupro in reaching its growth targets across Europe. “From our perspective, FruPay is an essential part of our business model and proposition. finmid directly supports us to revolutionise our industry and is underpinning our growth as a platform”.