Alibaba.com Partners With Capify to Introduce Australian Businesses to an Alternative Finance Solution.
Sydney – July 22, 2015
Alibaba.com, the leading platform for global wholesale trade, owned by Alibaba Group (NYSE:BABA), today announced an innovative collaboration with Capify (formerly Ausvance), Australia’s leading alternative finance provider, to introduce Australia’s small and medium-sized businesses (SMEs) to innovative finance solutions provided by Capify in global trading.
Under the newly formed collaboration and a new product called “Alibaba.com e-Credit Line,” Australia-based business buyers can now apply for critical working capital up to AUD$400,000 from Capify through the introduction by e-Credit Line when they purchase goods from foreign-based suppliers on Alibaba.com.
Michael Mang, Head of Business Development and Marketing, APAC, Middle East and North Africa, Alibaba.com & 1688.com said, “We want to help make financing as accessible and efficient as possible for the 1.9 million Australian SMEs that do business through Alibaba.com. By linking the buyers on our platform to a leader in the alternative business lending space such as Capify, to offer innovative financial packages for our members, we hope to help Australian SMEs address their financing challenges and therefore encourage them to engage in and capture opportunities from the global trading scene to further grow their businesses.”
John De Bree, Managing Director of Capify, said: “This is tremendous news for Alibaba.com’s Australian customers. We are excited to collaborate with one of the world’s fastest growing and innovative companies. “Alibaba.com has recognised Capify’s extensive local experience and expertise in assisting SMEs to grow their business with a real time online unsecured, quick and
“The collaboration will satisfy Alibaba.com’s customers financing needs with a tailored product to help grow their business.”
With this new product, an Australia-based SME business can apply in under five minutes through a streamlined process with Capify under this collaboration. A decision based on an automated credit scoring model will be made by Capify within 60 seconds allowing them to obtain a line of credit anywhere from AUD$5,000 to AUD$400,000.
Businesses can expect to use the approved line of credit to make multiple draw downs to finance purchases, and repay with small daily micro repayments or weekly repayments over a twelve month period, minimising the impact on the businesses’ cash flow. Payment is then made directly to a supplier for purchases on Alibaba.com.
Alibaba.com is also collaborating with Lending Club in the U.S. and with ezbob and iwoca in UK to provide innovative financing solutions for SMEs in those markets.
For more information on Alibaba.com’s e-Credit Line and its partners, go to http://credit.alibaba.com
The first business of Alibaba Group (NYSE:BABA), Alibaba.com (www.alibaba.com), is the leading platform for global wholesale trade serving millions of buyers and suppliers around the world. Through Alibaba.com, small businesses can sell their products to companies in other countries. Sellers on Alibaba.com are typically manufacturers and distributors based in China and other manufacturing countries such as India, Pakistan, the United States and Thailand.
Capify (formerly AmeriMerchant, United Kapital, AUSvance and True North Capital) is a leading alternative finance provider powered by proprietary technology and analytics. Capify leverages a proprietary underwriting platform to provide working capital
solutions to small- and medium-sized businesses in Australia, USA, UK, and Canada, including business loans and merchant cash advances. Business owners can apply online and receive decisions in 60 seconds or less by visiting the company’s website. For additional information about Capify in Australia, visit www.capify.com.au or www.capify.global to find out more about the global brand.
Źródło: Alibaba Group
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