Business & Economy Startups Malaysian CapitalBay to supply chain-financing ProcureHere’s customers

Malaysian CapitalBay to supply chain-financing ProcureHere’s customers




- Advertisement -

The multibank supply chain finance platform collaborate with Privasia to offer digital supply financing to its ProcureHere’s customers

Malaysian fintech company focusing on supply chain finance CapitalBay announced a collaboration with e-procurement platform by Privasia, ProcureHere.

With the collaboration. ProcureHere’s users can bridge their cash flow gap using CapitalBay’s service, in which a buyer that orders to a supplier via ProcureHere will be able to apply for supply chain finance from CapitalBay.

With the arrangement, ProcureHere’s users will get paid earlier for their invoices and buyers have the option to pay later.

- Advertisement -

Also Read: Singapore Airlines unveils open platform initiative to improve customer experience

In terms of SME financing, the partnerships between the two companies will be improved using CapitalBay’s credit risk-scoring engine with machine learning technology. Trade history, relationship, and performance data courtesy of ProcureHere will also be considered.

“The new partnership is a key part of CapitalBay’s mission to broaden its reach across Malaysia and provide meritocratic financing to businesses of all sizes,” said Ang Xing Xian, Chief Executive and Co-founder of CapitalBay.

Also Read: Hong Kong’s TNG Fintech acquires Indonesia’s digital payments company WalletKu

“We look forward to solving the problem in supply chain process for both the buyers and suppliers. Buyers would be able to receive goods faster, while suppliers enjoy early payment on delivery all with better cash flow,” said Puvanesan Subenthiran, Chief Executive and Managing Director of Privasia.

Privasia is a Malaysian ICT company that aims to assist the optimization of local businesses’ working capital. Through its cloud-based procurement platform ProcureHere, Privasia claimed to have facilitated over 50 clients worth over RM5 billion in purchasing.

CapitalBay is a multibank supply chain finance platform based in Malaysia that seeks to achieve financial inclusion by providing structuring financing solutions for the underserved.

The post Malaysian CapitalBay to supply chain-financing ProcureHere’s customers appeared first on e27.

Source: E27

Please follow and like us:
- Advertisement -

PM Lee confident that Singapore can emerge stronger from the impact of COVID-19

Prime Minister expressed confidence yesterday (Nov 27) that Singapore has what it takes to emerge stronger from the impact of the COVID-19 pandemic, as he looked back on the tumultuous year that is coming to an end. The coronavirus...

Why Jamus Lim or Nicole Seah is so hot or “Does anyone know who the MP for Kebun Baru is?”

Writing about general elections can be a risky exercise. The main risks?  Getting your predictions way off target and ending up with egg in your face and a massive dent in your professional credibility in a pre-election book. Or trying to...

PM Lee to participate in two libel trials on the same day

Prime Minister Lee Hsien Loong is set to appear in two libel trials on Monday (Nov 30). The trials, separately, are against And Leong Sze Hian. In a Facebook post on Friday (Nov 27), Lim Tean, the lawyer representing both Mr...
Please follow and like us:
Follow Me