RSA Global, a supply chain solution provider headquartered in Dubai, announced a strategic partnership with Dubai based Invoice Bazaar, a SME Financial Inclusion startup to help businesses get liquidity towards making supplier payments in the form of Inventory Finance. This partnership with Invoice Bazaar allows RSA Global to introduce financing options to RSA customers to get liquidity against inventory held at RSA facilities.
On the corporate level, RSA Global is a digital freight forwarding, and logistics company headquartered out of the UAE. Its focus is to provide the emerging markets of the Middle East, Africa, and India with seamless access to the world by the means of integrated logistics and supply chain services.
A number of SMEs in the emerging markets have limited access to financing. Inventory held by businesses is a tangible asset but the lack of a structure to collateralize the inventory poses working capital challenges for businesses. The solution proposed would benefit businesses that deal with generic fast-moving commodities and goods that are liquid in nature. The structure allows businesses to avail supplier payment lines against the inventory held as a collateral for a maximum tenor of 90 days. Businesses that expect to liquidate their inventory within three months would find this solution attractive as they can generate cash to procure more without waiting for the existing inventory to be fully sold.
Founded in 2016, Invoice Bazaar helps small businesses to get access to working capital. The company has partner-shipped with UAE based RAKBANK where it runs a joint supply chain finance program with the bank that supports small vendors to cash their receivables early from large corporations. Invoice Bazaar's solutions are focused around digital customers including sellers on Amazon, restaurants selling on online ordering platforms, and e-commerce businesses using payment gateways. Invoice Bazaar has helped small businesses to cash receivables of over US$125million so far.
"Invoice Bazaar is the perfect fit for us. This partnership enables us to open the door to our existing customers that already have shown a lot of interest in availing these services. This solution is also beneficial to SMEs as they would be able to find a one stop solution for their supply chain as well as working capital requirements," said Abhishek Ajay Shah, Co-Founder and Group CEO, RSA Global.
“The partnership with RSA Global gives us ready access to a large pool of customers that use RSAs logistics facilities in the UAE. This synergistic partnership also helps us in expanding our basket of products by adding Inventory Finance as a solution that has been a requirement in the market but unmet by the existing banking infrastructure,” said Anand Nagaraj, Co-founder and CEO of Invoice Bazaar.
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