Peanuds offers a seamless platform that integrates payments, such as money transfers and card services, with a robust spend-management system. This setup allows businesses to create user profiles with customised roles and permissions, assign payment cards, and monitor expenses with detailed analytics. Powered by Weavr’s financial infrastructure, Peanuds provides essential services like virtual IBANs, physical and virtual cards, and support for multiple currencies. Peanuds enhances Weavr’s offerings with a user-friendly interface and advanced spend management features, enabling businesses to scale and manage finances efficiently.

Initially targeting small businesses in digital-nomad hubs like Cyprus, Malta, and Portugal, Peanuds addresses the challenges posed by local banking systems that often fall short in meeting the needs of these businesses. The World Bank estimates that 40% of SMBs’ financial needs are underserved by traditional banks, highlighting the importance of Peanuds’ services. For instance, e-commerce companies frequently require immediate access to multiple payment cards to launch campaigns and manage expenses, something local banks may take weeks to provide. Peanuds bridges this gap, offering rapid and flexible financial solutions for businesses across Europe.

With its modular architecture that connects to various financial service providers, Peanuds delivers a unified platform that caters to diverse user needs under one login, aiming to become a comprehensive financial superapp powered by embedded finance. Weavr’s embedded finance platform and Open Banking framework are crucial to this vision, providing the backbone of Peanuds’ technical infrastructure.

This partnership with Weavr marks a significant step forward for Peanuds in realising its product vision. By leveraging Weavr’s robust infrastructure and legal framework, Peanuds can focus on refining its product and enhancing user experience, ensuring efficient, secure, and scalable financial services. Peanuds chose Weavr as its partner for their comprehensive feature set, competitive pricing, and straightforward, user-friendly technology, making it the ideal choice for launching and scaling their innovative offering.

Speaking on the new partnership, Florian Reike, co-founder of Peanuds, commented: "We are super happy to collaborate with Weavr. Their top-notch technology and guidance allow us to deploy new capabilities and features in a very fast and agile manner. This product would not be possible without embedded finance. After extensive research, Weavr was clearly the best partner for us to launch with for our target market."

Alex Mifsud, Co-founder and CEO of Weavr, added, "Peanuds' comprehensive suite of payment functions, combined with our embeddable financial solutions, showcases the true potential of embedded finance, particularly in the supplier finance realm. We are excited to support Peanuds in solidifying its position as a finance platform tailored specifically for a currently underserved target market, and look forward to the positive impact this partnership will have on its users and the broader market.”