Synaxon partners with iwoca to give members instant access to credit
Warrington, 14 October 2015 – Synaxon UK has formed a partnership with iwoca, an award-winning business finance provider, giving members instant access to flexible credit facilities that will make it easier for them to invest in new business projects.
Launched in 2012, iwoca has quickly grown to become one of the leading providers of finance in the UK and Europe. By using technology to eliminate the cost and complexity associated with traditional business credit, iwoca enables smaller players to take advantage of opportunities previously only available to their larger peers.
This means smaller resellers can compete for opportunities that would otherwise lie beyond their reach, says Mike Barron, UK Channel Director for Synaxon. “iwoca can make all the difference for smaller resellers and retailers that might otherwise struggle to obtain the backing they need to finance serious business deals. With iwoca, there are no up-front fees, no lengthy forms and no long-term commitments.
This is a fast, flexible source of finance that can be used by our members to fund new business and take opportunities, without having to rely in the credit facilities offered by distributors. It will enable them to bid with confidence, knowing that they will be able to finance the deal.”
Barron says that where members are unable to get credit from distribution, or have used up their credit limit, iwoca can provide a fast and practical solution. Synaxon estimates that iwoca has the capacity to make up to £4m worth of credit available exclusively to its members.
Synaxon already works closely with its distribution partners to ensure that members have access to credit facilities. Synaxon members are able to discuss credit directly with Ingram Micro’s dedicated Synaxon account managers, for example, and Beta Distribution offers all Synaxon members an immediate £1000 credit limit, which can be built-up further based on their trade. The partnership with iwoca offers members another option which can be used alongside existing facilities.
Picture: Mike Barron
— ENDS —
Synaxon is Europe’s largest grouping of independent IT resellers and system houses. It provides a range of services that enable resellers to enhance their marketing and build a strong presence in their chosen market and take full advantage of the extensive stock-holding and supply-chain capabilities of distributor and vendor partners. Synaxon partners have exclusive access to the unique EGIS (Enterprise Global Information System) on-line purchasing and information platform, through which they are able to locate, check availability and order products from Synaxon supplier partners. In addition, Synaxon provides a range of pro-active marketing services which reseller members can use to drive sales activity.
Synaxon is already well-established in Germany, where it has nearly 3000 partners that generate around €3 billion of gross external sales annually, representing 15 per cent of the German market. Through EGIS, these member partners have access to more than 200,000 products from over 200 distributors. Synaxon UK was established in September 2008 (fully launched in January 2009) and now has a UK reseller membership of 630 independent resellers with combined revenues of around £700 million of gross external sales.
For more information, contact:
Derek Jones, Managing Director, Synaxon UK
Tel: 0844 481 5844
Mob: 07589 582 1548