Case study
Timma and Adyen Capital: How seamless financing drives growth for Nordic salons
Find out how Timma helps SMEs for hair, beauty and wellness gain access to funds for growth via Adyen.
The platform economy is reshaping how business is done - especially for small and medium enterprises (SME). Leading platforms have successfully made it easier for SMEs to run their booking systems, accept payments and attract customers. As platforms have become deeply entrenched in the daily operations of their business clients, they continue to identify new issues to resolve for SME businesses looking to grow. Timma, a leading Nordic platform that helps hair, beauty and wellness professionals manage their business with the help of their booking marketplace, tapped Adyen to provide their SME users with capital to invest in their growth, providing a more sticky offering.
We’ve talked to Osmo Maksimainen, Product Manager and Joonas Valkonen, Marketing Lead at Timma, to understand why they chose to implement Capital, how it has served their users and what it means for Timma’s offering in an increasingly competitive space.
Timma is a leading Nordic platform that empowers salon professionals to manage their businesses and modernize the digital customer experience through a flourishing marketplace for hair, beauty and wellness. Originally from Helsinki, they operate across the Nordics, including Sweden, Norway, Denmark, and the Baltics, providing essential tools ranging from booking systems to payments. In an industry characterized by small business owners and niche services, access to capital is often a bottleneck for growth. By integrating Adyen Capital into their platform, Timma has successfully solved one of their customers' biggest pain points: gaining fast, hassle-free access to funding to invest in their daily operations and future growth.
The opportunity behind legacy banks neglecting SMEs funding
For a small salon owner, the path to a business loan from a traditional bank is often long and fraught with obstacles. Most of Timma’s customers are small businesses that frequently face rejection from standard banks.
Traditional credit institutions often require extensive documentation, in-person meetings, and lengthy due diligence timelines - a process that still does not guarantee funding for small businesses in need of capital. For a hair stylist or skin therapist needing to invest in a new treatment machine or renovate their premises, this is rarely a viable option. The terms are often unfavorable, and the process takes focus away from daily operations.
''We work closely with our clients and they all say the same thing. It’s hard to get a loan from normal banks. The procedure takes months and the banks often decline at the end of that lengthy process. For the small businesses that do get an offer for funding, the terms are bad and come with additional fees. This is where Adyen helped us bring our idea to life''
Joonas Valkonen
Marketing Lead, Timma
By identifying this market gap, Timma saw an opportunity to be more than just a booking system. They became a holistic partner, a "one-stop shop" for all salon needs.
Embedded funding with Adyen
By leveraging Adyen’s infrastructure, Timma introduced Adyen Capital. This is an embedded financing solution that allows merchants to access funds based on their historical transaction data with Adyen.
Banking made easy through fast integration
One of the most crucial aspects of the partnership was the ease of rollout. Osmo explains that the integration was remarkably fast thanks to Adyen’s customer tool Components, where integration of payment and financial services features are as easy as click and drag.
"By using Adyen’s Components, we could integrate our financing solution really fast. One developer spent 2-3 hours on this before going live"
Osmo Maksimainen
Product Manager, Timma
Instead of months of development, Timma could almost immediately offer their customers added value through funding that directly impacts their ability to scale.
Pre-approved loans based on data
The difference from traditional loans is stark. Because Timma’s payments offering already flow through Adyen, there is an inherent understanding of the cash flow of their salon business users. If a salon has processed payments through Adyen long enough, a credit evaluation can be performed instantly and based on more granular data than traditional banks can access through technology.
Joonas, Marketing Lead at Timma, explains that the offering is built on simplicity: everything is pre-approved. Customers don't need to fill out stacks of applications; they see their offer directly in the platform and can accept it with a few clicks.
Results: Investing in growth
Since the launch, market response has been entirely positive. In Finland alone, approximately 3,000 merchants already utilize Adyen via Timma, and interest in Capital is growing steadily.
From new machines to new salons
Timma’s customer service shared a diverse set of examples of how the funding has been utilized. In one case, a salon invested in a new facial treatment machine, a significant but necessary investment to offer modern services and increase revenue.
In another instance, a larger salon used the capital to expand and open a brand new location. For these entrepreneurs, access to Timma’s financial services are the difference between stagnation and the next stage of growth.
Increased satisfaction and loyalty
By offering financial services tailored to the reality of small business owners, Timma has strengthened its relationship with users. Joonas notes they haven't heard a single negative remark, which is a rare occasion in an industry filled with non-technical business leaders with technical (and financial) needs.
The way forward: Automation and expansion
Timma sees significant opportunities to further develop the offering. The plan is to remove human error and fully automate the marketing of pre-approved loans. By using data proactively, they can reach the right customers at the right time.
They also plan to produce white papers and more educational material to inform both sales reps and the market about the benefits of funding opportunities based on better and faster due diligence from the providers small businesses already trust.
The collaboration between Timma and Adyen demonstrates the power of fintech when used to optimize access to capital. By understanding the local Nordic market and the specific challenges faced by small businesses, Timma has built a platform that finances the future of the beauty industry.