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Several factors, including your financial performance and marketing history, are taken into account when determining your funding offer. Your marketing performance and revenue generation will determine the amount of funding you will be able to receive. Our system will always generate a number of funding offers for you, so that you can choose the one that best fits your needs.
You must have at least 6 months of historical sales and over +€10.000 in monthly revenues to qualify for MXNEY’s funding.
To apply for MXNEY’s cash funding you need to provide access to the following data sources:
- Open banking
- Shop-system (Shopify, WooCommerce etc.)
- Ad platforms (Facebook ads, Google ads etc.)
You will also be required to verify your business and all owners with a 25% stake or more in the business as part of KYC (Know Your Customer) regulations. Therefore, you must present:
- Copies of passports
- Proof of address (national identity card, electricity bill, or similar)
- Bank account statement of your business
In addition, you must simply fill out all required fields in your application or schedule a call with one of our account managers.
You can connect and request funding in less than 5 minutes. Within 24 hours our team will be in touch to discuss your offers. When you've accepted an offer, your funds can be in your account within 1-3 business days.
Upon signing up and connecting your platforms, we will create the best tailored offers for you based on the specifics of your ecommerce. The amount of funding we can provide can be up to €2 million, sometimes even more.
MXNEY offers non-dilutive flexible growth funding for Ecommerce entrepreneurs. Unlike venture capital, MXNEY allows founders to raise funds without giving up equity. Furthermore, as opposed to traditional bank loans, MXNEY charges no interest rate and the loan is repaid as a % of future revenues allowing founders to flexibly repay.
MXNEY connects to
- Your bank account via Open banking
- Your Shop-system (Shopify, WooCommerce etc.)
- Your Ad platforms (Facebook ads, Google ads etc.)
- Google Analytics (if applicable)
Once the contract is signed and MXNEY has performed its final performance and business verification, you should be able to access your funds within 1-3 business days.
You can see all progress made towards your repayment as well as how much funds you have leftover in your MXNEY Dashboard.
Yes. You may apply for a second loan if one of the following has happened:
- Your revenues have increased significantly since the initial approval of a loan
- You have chosen not to receive your maximum loan amount the first time
- You have repaid more than 90% of your first loan
* All decisions are subject to individual due diligence
You will repay the loan as a % of your total daily sales (revenues) until the loan has been fully repaid. This means you flexibly repay: if your sales go down, so do your repayments. If your sales increase, you repay the loan faster. Once the loan has been fully repaid, repayments automatically stop.
The exact percentages of weekly revenues that go towards repaying your loan depend on the amount borrowed and our analysis of your business performance.
We always make sure that you will keep a healthy portion of your sales so we never charge you more than 20% of weekly sales.
The time it takes to repay a loan depends on your future business performance and the revenue share that has been agreed on.
The repayment amount is automatically deducted through either:
1) Direct debit or
2) Charged through your payment processor
The only cost of funding is the % flat fee applied to the loan amount. This is amount depends on certain factors such as the specifics of your business and how much funding you want.
MXNEY operates with a flat fee. The flat fee is a % applied to the loan amount. There are no interest payments and your flat fee will not change.
This is amount depends on certain factors such as the specifics of your business and how much funding you want.
The flat fee is automatically deducted together with there payment of the initial loan amount through either:
1) Direct debit or
2) Charged through your payment processor
MXNEY connects to
- Your bank account via Open banking
- Your Shop-system (Shopify, WooCommerce etc.)
- Your Ad platforms (Facebook ads, Google ads etc.)
- Google Analytics (if applicable)
MXNEY uses bank account information to get a better assessment of the overall financial performance of your business. The bank account that you connect will also be the bank account that MXNEY will debit loan repayments from.
MXNEY uses your company information purely for performance assessment and operates according to all applicable data privacy and protection regulations. Please see our privacy policy for more details.
