Shopline, Onramp Partner on Financing for US Online Merchants
Shopline and Onramp Funds have teamed up to deliver flexible financing options to eCommerce businesses.
With this partnership, U.S.-based online merchants using Shopline’s commerce services platform can access capital from Onramp Funds, which is a funding provider focused on eCommerce businesses, the companies said in a Tuesday (Dec. 17) press release emailed to PYMNTS.
“Our partnership with Onramp Funds strengthens Shopline’s ability to support merchants through fluctuating inventory demands and seasonal sales surges,” Shopline Co-president Christoper Yang said in the release.
Online merchants who connect their Shopline store to Onramp can receive rapid approval, customized funding options and repayment flexibility that includes sales-based or fixed structures, according to the release.
The partnership enables quick access to capital, with cash available within 24 hours, the release said.
These funding options are designed to meet online merchants’ needs for inventory, marketing, new product launches and other projects, per the release.
“This partnership tackles one of the main pain points in eCommerce — capital limitations — and will empower sellers to pursue growth without restrictive financial constraints,” Onramp CEO Eric S. Youngstrom said in the release.
In an earlier, separate collaboration, Onramp began offering financing solutions to eCommerce sellers on Walmart Marketplace in June 2023, saying this integration enables it to offer growth capital funding to sellers with repayment terms that align with their online sales.
Shopline said in March that it added new features for its social media integration such as targeting capabilities and ad effectiveness tracking tools.
The company, which is headquartered in Singapore and has become one of Asia’s largest Software-as-a-Service (SaaS) and solution providers, said at the time that it was deepening its roots in the U.S. market.
“Our U.S. expansion marks a pivotal moment in Shopline’s journey as we work to meet global demand for powerful but intuitive unified commerce solutions built to help brands reach, engage and convert their customers at every touchpoint,” Yang said in a March 18 press release. “We believe retailers of all sizes should be free to access the best possible technologies — from innovative social commerce features to powerful point-of-sale and distribution capabilities — as they grow their brands.”
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