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Third-party player partners with trade giant

 

 

Third-party player partners with trade giant

Huntley Mitchell Comments 0
— 1 minute read

One Australian lender has announced a new deal with one of the world’s biggest online wholesale trade platforms, along with a global rebrand.

AUSvance, which works with brokers to provide SMEs with unsecured business loans, has rebranded to Capify and will serve as an international conglomerate provider of unsecured alternative finance solutions.

Headquartered in New York, Capify combines five separate companies founded by CEO David Goldin: AmeriMerchant, which operates in the US; United Kapital and Capiota, which operate in the UK; Canada’s True North Capital; and the Australian-based AUSvance.

In a further move to expand its offering to SMEs, Capify has formed a partnership with leading global wholesale trade platform Alibaba.com – owned by the Alibaba Group – to assist with alternative funding in global trading.

Under the new collaboration, Alibaba.com e-Credit Line will allow Australian SMEs to apply for as much as $400,000 in working capital when they purchase good from foreign-based suppliers on the website.

Capify said its automated business lending platform offers a real-time, online application that allows businesses to receive loan decisions in 60 seconds or less. The global rebrand, meanwhile, will enhance its platform by leveraging the latest developments in technology and tailoring them to the local market.

Mr Goldin said the official launch of Capify comes at an exciting time as the alternative finance sector is thriving more than ever, “and is top of mind for everyone from business owners to Wall Street”.

“We have seen unparalleled growth in the Australian market, and expect to launch new products in the near future that will really benefit and support local SMEs, providing them with more variety and targeted offerings in the short-term alternative lending space,” he said.

John de Bree, managing director of Capify in Australia, said that as the alternative finance industry continues to grow, Australia is already experiencing – and can expect a further flood of – new entrants into the local market.

[Related: La Trobe joins forces with AFL team]

Third-party player partners with trade giant
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