Credibly, a US-based fintech providing loans to SMEs, has joined forces with German payments firm Wirecard to digitalise its funding disbursements.

Under the alliance, Wirecard will issue digital payout cards and virtual wallets for customers of the fintech firm.

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Additionally, the partnership will enable Credibly to gain access to the payment firm’s data analytics and reporting capabilities. The aim is to leverage small business spending data to improve its risk management and marketing models.

Credibly director of Marketing & Strategic Partnerships Jeffrey Bumbales said: “We place an emphasis on making the funding process as frictionless as possible, and partnering with Wirecard allows us to issue smart cards that provide even faster access to funds, while providing full flexibility in how our clients spend their working capital.

“The enhanced data and reporting functionality will also bolster our models and risk analytics, in turn improving our ability to meet the financing needs of SMEs.”

Since 2010, Credibly has provided more than $1bn in funding and expects to provide around $300m to its SME clients this year.

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This funding will be issued on cards through Wirecard’s digital financial commerce platform.

The customers can also access features such as mobile wallet provisioning and Wirecard mobile app to manage funds.

Wirecard North America managing director Seth Brennan said: “Credibly’s mission to support the next generation of entrepreneurs resonates with us, and we are proud to be working with them to help thousands of SMEs in the US get the funding they need to invest in their businesses and digitise their daily finances.”

A few days ago, Malaysia’s Affin Bank Berhad partnered Wirecard to launch a complete internet banking solution.