Payments firm PayPal made an undisclosed investment in LendUp, a start-up that provides online loans to consumers and small businesses.

According to Reuters, both firms confirmed the strategic capital injection in statements, as PayPal made its latest move into expanding its partnership base and establishing a jump on rivals in the digital payments market.

In March this year, PayPal made an investment South Korean payments app company Viva Republica, after a $30 million strategic investment in investing app Acorns last April.

LendUp, founded in 2012, automates parts of the process of providing loans, with aim of offering cheaper and faster solutions for both consumers and businesses online.

The company targets its offering to consumers traditionally overlook by banks, because of risk concerns.

The aim is to help people struggling financially get out of debt, save more money or become financially more successful.

Speaking to TechCrunch, LendUp CEO Sasha Orloff said that a lot of the company’s methods resonated with PayPal, and said both firms share the same vision and also serve many of the same customers.

The company plans to use the new capital to expand its customer base, and also find ways it could work with PayPal, added Reuters.