Mbiz Collaborates with Investree to Provide Financial Service
Payment to suppliers as SMEs using invoice and PO financing
Yenny Yusra - 5 September 2019
After previously reported in a strategic partnership with fintech lending, Mbiz officially announced Investree as the new associate to support financing for suppliers. Mbiz’ CEO, Rizal Paramarta said the company will be focused on supplier financing of SMEs in order to finalize the project through Mbiz platform and Mbizmarket.
“There are currently many SMEs having difficulty in meeting the client’s standard, [..] for being corporate and enterprise supplier, payment should be done after the project finished. In order to manage the financial system, they need a big amount of cash.”
He also mentioned the payment terms can affect business productivity in related companies, especially when the time does not meet the expectation or the current financial management terms. The issue might occur not only in SME-level but also suppliers with bigger management.
Adrian Gunadi, Investree’s CEO said the partnership with Mbiz considered as a strategic step on channel acquisition. The main objective is to reach broader coverage of SMEs in an efficient way.
“All borrowers will experience seamless lending process using integrated technology of Investree and Mbiz. They offer loans of Invoice Financing, Pre-Invoice Financing, and Buyer Financing. Those products are included in Investree‘s supply chain,” he said.
Although Mbiz has recently introduced its marketplace platform targeting SMEs called Mbizmarket, it can also be utilized by companies within the Mbiz ecosystem.
In terms of partnership extension with other financial institutions or fintech lending, Paramarta emphasized on its current focus to observe the strategic partnership with Investree. However, we keep the door open for those who want to collaborate with Mbiz.
Earlier, Mbiz has launched a leasing service with Tokyo Century Corporation, the biggest financing company in Japan.
Overall, the number of e-procurement players using Mbiz and Mbizmarket platform is increasing. It also involves companies of various scale, from giant corporates to SMEs. Since 2018, Mbiz has recorded an increasing number in service and product procurement company (60%), and service and product purchasing company (40%).
Original article is in Indonesian, translated by Kristin Siagian