Southeast Asia’s SME digital finance platform Funding Societies has partnered with SGeBIZ, a supplier of digital procurement, cost, and sourcing options, to introduce embedded finance options for SMEs in Singapore.
This collaboration goals to combine Funding Societies’ financing capabilities into SGeBIZ’s EzyProcure platform by a “Purchase Now, Pay Later” (BNPL) characteristic.
The initiative will reportedly profit over two thousand companies utilizing EzyProcure, predominantly from the meals and beverage sector, by offering customised financing options to assist in money move administration.
This transfer is predicted to boost the monetary agility of SMEs by enabling them to handle their procurement and funds extra successfully.
EzyProcure, launched in 2016, is a cloud-based platform that automates ordering, bill reconciliation, and cost processes for companies, significantly within the meals and beverage business.
The platform helps exchange guide processes with streamlined, digital options, liberating up precious assets for enterprise progress.
Since its inception in 2015, Funding Societies has facilitated over S$5 billion in enterprise financing, positively impacting over 100,000 SMEs throughout its working areas, which embrace Singapore, Indonesia, Malaysia, Thailand, and Vietnam.
Simon Xie
Simon Xie, Singapore Nation Head of Funding Societies mentioned,
“We’re honoured to associate with SGeBIZ in taking a extra holistic strategy in serving SMEs to assist their money move administration wants.
One such method is recognising how we’re embedding our digital financing capabilities and greatest practices in serving Singaporean SMEs over the previous 9 years to assist the BNPL providing through EzyProcure.”
Edmund Louis Nathan
Edmund Louis Nathan, Group CEO of SGeBIZ mentioned,
“The partnership with Funding Societies is one thing I’ve envisioned for the reason that inception of SGeBIZ, to have the ability to value-add and assist our SMEs by offering much-needed liquidity to develop their companies.
The BNPL providing will function an ideal complement to our present EzyProcure platform which has added effectivity beneficial properties to new and present Patrons and Suppliers in our ecosystem.”
Featured picture credit score: Edited from Freepik
