Payments provider, Ozow, has announced a new partnership with SME financial services platform, Lula, aimed at expanding access to business funding for small and medium-sized enterprises (SMEs) across South Africa.
The partnership introduces a new funding access channel for Ozow’s merchant base enabling eligible businesses to apply for funding through a co-branded Ozow-Lula digital interface. Applications will be assessed and fulfilled by Lula, with Ozow facilitating access through its payments ecosystem.
The collaboration reflects a broader evolution in the fintech sector where payments platforms are increasingly extending their role to support the operational and financial needs of businesses, particularly in a constrained economic environment.
South African SMEs continue to operate under pressure from rising input costs, including fuel and electricity, alongside ongoing macroeconomic uncertainty. Access to appropriate and timely funding remains a persistent challenge, particularly for businesses without extensive credit histories or traditional collateral.
Ozow interim CEO Rachel Cowan said the partnership forms part of the company’s ongoing focus on supporting merchants beyond payments.
“Our focus has always been on empowering businesses and giving them the tools to thrive in the digital economy,” said Cowan.
“Through this partnership with Lula, we are extending that role by improving access to funding for our merchants through a channel they already use and trust.”
Cowan added that the partnership reflects how the payments landscape is evolving.
“Fintech platforms are increasingly expected to deliver more integrated solutions that support how businesses operate day-to-day. This collaboration is a practical extension of that shift, allowing us to connect merchants to additional services that support their growth.”
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Through the partnership, Ozow merchants will be able to access Lula’s established funding solutions directly without needing to navigate multiple platforms or application processes.
The integration is designed to reduce friction in accessing funding while improving visibility of relevant funding options for businesses already active within Ozow’s ecosystem.
Because the merchant already has a transacting history with Ozow, they will be able to dynamically see how much funding they could qualify for on their Ozow Merchant Portal, before even completing their application. This means that Lula will have a trusted channel delivering qualified businesses to their platform, while the businesses application process is simplified.
David Winter, SVP: Business Development at Lula said the partnership aligns with Lula’s approach to expanding access to funding through embedded distribution channels.
“Lula’s approach has always been to meet businesses where they are,” said Winter.
“By partnering with Ozow, we are able to extend our reach to a large and active base of SMEs that are already participating in the digital economy.
This collaboration enables us to provide funding solutions in a way that is both accessible and aligned with how these businesses operate on a day-to-day basis.”
The announcement comes as fintech partnerships increasingly focus on ecosystem expansion with companies embedding complementary financial services into existing platforms to create more seamless user experiences and ultimately deliver more value, whether that be time saved, reduced costs, or more interoperability.
For Ozow, the partnership builds on a series of recent collaborations aimed at strengthening its broader merchant value proposition, including integrations that support real-time payments and alternative payment methods.
The company indicated that communication around the new funding channel will be rolled out to its merchant base in the coming weeks, alongside broader market engagement.
“Our merchants are central to everything we do,” Cowan added.
“Ensuring they have access to the tools, resources, data and insight they need, whether that’s payments infrastructure or funding, is critical to their ability to operate and grow, and ultimately contributes to broader economic activity.”
Merchants can find out more and submit their application here, or, if you’re already an Ozow merchant, you can visit your Merchant Portal.
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ABOUT OZOW
Ozow is a leading South African fintech company transforming the way consumers and businesses transact through innovative, seamless, and secure payment solutions.
Founded in 2014, Ozow specialises in real-time digital payments, offering a range of products including Pay by Bank, Card Payments, PayShap Request, Instant Refunds, Payouts, and Cash Vouchers.
Trusted by South Africa’s leading brands, Ozow enables millions of South Africans to transact effortlessly, helping merchants unlock growth, reduce friction at checkout, and improve financial accessibility.
Ozow is a licensed System Operator and Third-Party Payment Provider with the Payments Association of South Africa (PASA) and is fully compliant with industry regulations.
For more information, visit www.ozow.com
ABOUT LULA
Lula is a dedicated SME funding platform that offers easy and convenient funding of up to R5 million within 24 hours.
Its repayment terms are flexible, with no early repayment penalties.
Lula’s Cash Flow Facility operates as a line of credit without monthly account or admin fees, allowing businesses to pay only for what they use.
Its Fixed-Term Funding provides lump sum funding with repayment periods of 3, 6, 9, or 12 months, offering predictable terms and fees.
For more information, visit www.lula.co.za
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