Skeps provides a lending gateway that securely matches customers with real-time financing options from a multi-lender network, enabling purchases of $500 and above. This technology enhances sales conversions by up to 30% and increases average order value by 25% through embedded financing solutions tailored for various industries.
Funding
$10.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Merchants often face challenges in converting customers for purchases above $500 due to limited financing options and cumbersome application processes. Traditional financing methods can be slow, fragmented, and may lead to cart abandonment, resulting in lost sales opportunities.
Solution
Skeps provides a microservices platform that embeds banking services directly into merchant websites, retail stores, and 1:1 sales environments, offering customers real-time financing options. The platform's patented technology securely matches customers with suitable financing offers from a multi-lender network, streamlining the approval process and enabling purchases from $500 to $100,000+. By integrating financing directly into the buyer journey, Skeps helps merchants increase sales conversions, average order values, and customer repurchase rates. The platform also offers white-label options for financial institutions, allowing them to provide customized lending services to their customers.
Target Audience
Skeps primarily targets merchants looking to increase sales conversions and average order value, as well as financial institutions seeking to offer customized lending solutions.
Features
- Patented technology for secure and instant matching of customers to financing offers
- Access to a multi-lender network, increasing approval rates
- Embedded financing solutions that integrate directly into merchant websites and sales flows
- Automated pre-approval process to provide offers early in the customer journey
- White-label banking services for financial institutions to create custom financial products
- Real-time credit model updates via a dedicated dashboard
- Support for various industries, including home improvement, retail, telecom, travel, and healthcare
- Automated balance and payment notifications to prevent delinquencies