Technology company Foodhub has announced a new partnership with integrated finance leader YouLend to support partner restaurants and takeaways during the cost of living crisis.
Responding to inflation issues, supply chain issues and workforce challenges, London-based Foodhub is now offering partner restaurants and takeaways additional support through integrated finance and the use of new technology
YouLend aims to provide innovative financial solutions through the use of new technology and data sources to enable platforms like Foodhub to provide fast, flexible and competitive financing to businesses experiencing cash flow problems, with a particular emphasis on businesses small and medium which are more. likely to have been rejected by banks.
Foodhub CEO Ardian Mula says he was inspired to launch the partnership as part of the firm’s ongoing commitment to its partners and desire to provide innovative solutions to combat the cost of living crisis.
He added: “Times are tough for many businesses, with the cost of living crisis causing widespread problems, but we want our food and restaurant partners to know that we are here for them…
“…We are positive that this ethical financial support will help a number of our partners navigate these troubled financial waters – allowing them to come out stronger than ever on the other side.”
Kasper Larsen, co-CEO at YouLend, said: “We are delighted to partner with Foodhub and eager to start supporting the company’s partners. Inflation is putting everyone under pressure, but it is especially hitting SMEs from multiple angles, as their supply costs are rising faster than their sales.
“Furthermore, SMEs are facing exclusion from traditional finance providers due to outdated approaches to risk assessment. We are here to help, providing financial solutions that will help Foodhub partners in the short and long term.”
Foodhub’s partnership with YouLend comes on the heels of the company’s launch of a new initiative called Love Local, which will see restaurants and caterers donate free food to local charities.
The scheme promises that once a caterer/restaurant receives a certain number of orders through the ordering platform, Foodhub will pay for a hot meal from one of its restaurant or catering partners and donate it to a charity chosen within the local community.
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