Polish marketplace Allegro has announced a partnership with PKO Bank Polski. Together, they are launching two services: financing for businesses, and a payment method with cashback. The services will be launched before the end of this year.
Allegro is a popular online marketplace from Poland. It was launched in 1999, but has grown internationally since then. It launched in Slovakia last year. In that same year, the marketplace generated a turnover of 2.6 billion euros.
Loans of more than 100,000 euros
Now, the company is launching a partnership with Polish bank PKO BP. Together, they are launching Allegro Kapital. A part of that is business loans. Sellers on the marketplace can apply for a loan of up to 71,000 euros (300,000 Polish zloty).
In the next 3 years, Allegro Kapital will provide 20,000 entrepreneurs with loans
In 2026, the two parties will grant business loans of up to 118,000 euros (500,000 Polish zloty). In the next three years, Allegro Kapital will provide 20,000 entrepreneurs with loans. In total, it will finance 350 million euros (1.5 billion Polish zloty).
Workings of the loans
Sellers do not need to provide documents or certificates, as the loan will be determined based upon their track record on the platform. Loans have a margin of 6 percent. And according to PKO BP, after assessing creditworthiness, the loan decision is made in three minutes. Funds are disbursed within 24 hours.
‘We enable our sellers to respond in treal time to dynamically changing market needs’
“We simplify access to attractive financing like no other. Our sellers gain access to real capital for the development of their businesses, enabling them to respond in real time to dynamically changing market needs, stock up for peak season, and build competitive advantages”, said Marcin Kuśmierz, CEO of Allegro.
New payment method for customers
In addition to business loans, PKO BP and Allegro are also launching a new payment method with cashback. Customers can link their customer account at PKO BP to their Allegro account. As a result, they do not need to leave the Allegro app to complete transactions.
