Universal Partners, a FCA-regulated, cross-border payment and foreign exchange specialist for businesses, has announced a strategic partnership with embedded finance fintech Muse Finance to offer clients digital invoice and trade finance.

This further extends Universal Partners' financial product suite and enables customers with top-tier financial tools to promote global scalability, the company states.

Muse Finance brings to the table a range of digital factoring and trade finance services, such as invoice financing and supply financing. These services are designed to provide UK-based SMEs with an improved command over their cash flow and a clearer view of their financial standing.

By harnessing Muse Finance's capabilities, Universal Partners is aiming to reduce barriers and empower a new era of enhanced financial management for SMEs, the company states.

SMEs are the lifeblood of the UK economy, constituting approximately 99% of all businesses. Over recent years, they have endured a challenging period, initially due to the pandemic and, subsequently, the Ukraine conflict and global commodity shocks.

Compounded by Brexit ambiguity and a volatile governmental fiscal policy, 43% of SMEs have been forced to close. Those that have survived have sought additional funding, primarily to manage cash flow with seven in 10 UK businesses (69%) seeking credit for this reason, the company states.

In 2023, as more SMEs seek to expand internationally, they face hurdles such as exchange rate instability, uncertainty in cross-border payments, and extended waiting periods for payment or goods receipt. Universal Partners specialises in helping UK companies mitigate these risks, providing tailored foreign exchange strategies and same-day cross-border payments, according to the company.

The partnership with Muse Finance will now enable Universal Partners to also mitigate liquidity concerns, with its digital factoring and trade financing solutions providing businesses with a suite of tools to improve their cash flow.

Muse Finances' invoice-based financing solutions can enable Universal Partners customers to receive payment before the invoices settlement date or make payments to suppliers whilst keeping the funds for up to 120 days.

Oliver Carson, CEO of Universal Partners, comments, "We are on a mission to become the go-to partner for businesses wishing to expand internationally.

"Our partnership with Muse is a step in the right direction, giving us proven, best-in-class solutions for digital factoring and trade finance. These two core services will give our customers the cash flow management tools they need to scale anywhere in the world without the liquidity concerns that can slow down growth."

Ann Juliano, CEO of Muse Finance, adds, "This partnership is a testament to the demand for financial products driven by consumer needs. At Muse Finance, we have built solutions that address key challenges faced by consumers, leveraging the power of embedded finance to provide fast, reliable and low-cost digital invoice and trade finance products."