Explore promising markets for platform expansion

If you’re looking to expand to new markets, it’s useful to consider local market conditions for SaaS platforms. To give you a better idea of what geography to invest in, we’ve identified high-potential markets. 

This guide explores the markets that we perceive as promising for platform expansion and the local nuances platforms should consider when aiming to drive revenue through payments

Promising markets for expansion  

SMBs globally have an appetite for both embedded payments and embedded financial services. Globally, we observe that although 74% of SMBs are interested in payments embedded in their platform, only 35% actually leverage it.

The conditions for platform expansion are particularly favorable across the United States (US), United Kingdom (UK), France, Germany, Canada, and Australia. The demand for platforms in these geographies is high. Between 74% and 84% of SMBs are choosing to run their operations through platforms in these markets.

Currently, less than 5% of SMBs in these markets source financial services from their platform. As more SMBs start to rely on platforms for more than business software, the opportunity for your platform to differentiate itself and serve more complex needs with financial products like Capital, Issuing, and Accounts.

“We’ve learned that providing a one-stop solution makes our core SaaS products stickier, and enables merchants to simplify their operations, scale for growth, and provide exceptional customer experiences.”

Jona Georgiou, Former GM Payments and Financial Services at Lightspeed

Explore our nuanced country guides 

While it’s easy to conclude that these shared conditions greenlight expansion in these markets, expansion itself presents a harder challenge. In the following country-specific sections we dive into the nuanced payments landscapes and regulatory contexts at play in these fertile markets, which are key for platforms to successfully navigate in order to maximize revenue growth.