News

Mohammad Bin Rashid Fund Partners With Metis Consultancy To Support SMEs

The Mohammed Bin Rashid Fund (MBRF), a fund established by H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai to finance the UAE's youth and SME projects, has now set up a post-fund monitoring service for its portfolio companies.

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News

PayPal to Acquire Swift Financial
PayPal has agreed to acquire Swift Financial, a leading provider of working capital solutions to small businesses in the U.S. Headquartered in Wilmington, Del., Swift Financial was established in 2006 to provide funding in order to support businesses. Since then, Swift has provided funding to thousands of growing companies in the U.S. through a...
British Business Bank Supports Tech-Focused SME Fund
British Business Bank Investments, BBB’s commercial arm, has committed €40m (£35m) to the Harbert European Growth Capital Fund II. The fund focuses on fast-growing technology SMEs, particularly those backed by venture capital firms. The Harbert fund expects to make its first investment soon. Transactions from venture capital, equity crowdfunding,...
Member News: Ripple Unveils Expanded Suite of Offerings
SME Finance Forum member Ripple has unveiled a new name for its global payments network and new solutions. RippleNet, the global payments network, has more than 90 customers and is undergoing more than 75 commercial deployments. The network’s digital asset, XRP, was listed by five new exchanges in the second quarter of this year, which resulted in...
Fern Software
SME Finance Forum Member Fern Software, is serving a new client. Abacus core banking system which is provided by Fern, has signed with Ruby Hill Microfinance, a new microfinance entity in Myanmar. Ruby Hill was established earlier this year as a joint venture between Myanmar’s Loi Hein Group and Dragon Capital Group, a Vietnam-based asset manager...
New payment solution developed in partnership between Visa and fintech Validus helps SMEs resolve capital crunch
Small and medium enterprises (SMEs) will be able to receive payments faster through a virtual credit card solution which facilitates cash flow to businesses. Developed in partnership between credit card company Visa and FinTech developer Validus, the payment solution is the first of its kind in Singapore, and seeks to unlock capital for SMEs to...
Member News: How Ant Financial, Part of Alibaba, Will Dominate Finance
Alibaba has been a trailblazer in many ways. One area that Alibaba wants to dominate is finance for both consumers and SMEs and they are well on their way. Ant Financial , their financial services subsidiary, is executing on this vision and last week Eric Jing, CEO of Ant Financial, delivered a presentation explaining their approach. To put the...
Awareness key barrier to SME lending growth
While tighter banking restrictions have forced more small and medium enterprise (SME) borrowers towards non-bank lenders, a lack of awareness is still hindering real growth within the sector. The Disruption Index, which has been jointly developed by small business lender Moula and research and consulting firm Digital Finance Analytics (DFA), puts...
At $3 Billion in Loans, Amazon is Quickly Becoming a Huge SME Lender
Amazon announced today that it had originated over $3 billion in loans to more than 20,000 small businesses since 2011. One billion of those loans came in the past 12 months. Peyush Nahar , VP for Amazon Marketplace, released a statement on the milestone; “We created Amazon Lending to make it simple for up-and-coming small businesses to...
The Role of Social Media in Extending Financial Opportunities – FinTech Examples
The number of social media users worldwide has reached 2.34 billion and is expected to grow to ~2.95 billion by 2020. Social media users generate 500 million tweets every day, and share 1.3 million pieces of content on Facebook every minute of every day, not mentioning other widely adopted channels. Two things allowed social media to become a...
Blockchain-Based Loans Could Rescue SMEs Without Other Funding Options
The strength of every nation’s economy is usually a direct reflection of the viability of the Small and Medium scale Enterprise (SME) sector. The impact of SMEs on the Gross Domestic Product (GDP) of nations cannot be over-emphasized. In most cases, especially developing countries, SMEs account for as much as 35-40% of the total GDP. SMEs lack of...