Cirralto’s (ASX:CRO) Spenda BNPL now at Whola’s marketplace


  • Cirralto’s BNPL services will now be available on Whola’s platform.
  • ASX:CRO is expanding its Spenda BNPL services .
  • Cirralto and Whola deal has potential synergistic benefits.

ASX listed B2B transaction services business Cirralto Limited (ASX:CRO) has announced the release of its Buy-Now-Pay-Later (BNPL) services to Whola's platform. Whola has a strong presence in the fashion wholesale trade. Whola's customers will now be able to use the BNPL facility due to its partnership with Cirralto.

More on Whola- Cirralto’s BNPL deal-

  • Whola and Cirralto have entered into a standard rolling contract. It doesn't have any fixed term to deliver services to Whola's marketplace buyers.
  • The successful rollout of the Spenda BNPL widget into Whola's online marketplace will utilise Mastercard Track Business Payment Services.
  • In the first seven days of the initial rollout period, a 60% take-up by Whola's customers is highlighted.
  • Whola has around 3,000 buyers on the network, potentially creating a payment and lend flow of AU$5 million per month for a year, at an assumed 30% adoption rate.
  • CRO will receive a minimum gross fee of 2% on all transactions on the Whola network.
  • If a 30% adoption rate is achieved, CRO will receive minimum gross revenues of about AU$1.2 million per annum from the Whola network partnership.

What is there for Cirralto?

Cirralto's BNPL services for working capital and payment solutions over the Mastercard platform is a milestone. BNPL is going to be a game-changer for Australian retailers. CRO is thus now well prepared to tap this rising opportunity.

How will Whola benefit?

Whola is a well-established fashion wholesale trader. The provision of extended credit to Whola's customers via the CRO's Spenda BNPL can potentially reduce the stock risk for its partners, lower the cost of capital required for businesses and drive the supply chain. The partnership is a win-win for Whola and its customers and suppliers. Whola has close to a hundred of Australia's best fast-to-market labels from a core group of manufacturers and suppliers. Whola's customers will now be in a position to ready themselves for a stellar Christmas trade.

Bottom line-

Although there is no guarantee of increased adoption rate and BNPL utilisation rate, the deal will help expand CRO services. Therefore, Cirralto expects the forecasted revenue to be material as of now.

Meanwhile, on ASX today, CRO shares are trading slightly higher at AU$0.062 per share at 12:09 PM AEDT.           

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