Ant International’s Bettr Unveils SME Financing Solution in Brazil
Ant International’s Bettr has launched Bettr Working Capital in Brazil to provide financing solutions for SMEs. Partnering with AliExpress, this new initiative aims to enhance access to working capital for local merchants. It leverages AI technology to facilitate customized loan options, ultimately promoting growth in Brazil’s expanding eCommerce market while ensuring compliance with regulations.
Ant International’s Bettr has launched a new financing solution designed specifically for small and medium-sized enterprises (SMEs) in Brazil. This initiative aims to foster economic growth in the region by partnering with local businesses. As a noteworthy initial action, Bettr has collaborated with AliExpress to introduce Bettr Working Capital, a product that enhances access to working capital for merchants on the platform, facilitating growth within Brazil’s burgeoning eCommerce sector.
The implementation of Bettr Working Capital will unfold in phases, commencing with the issuance of loans on March 17. Brazil’s vibrant digital economy is experiencing substantial eCommerce growth, aided by numerous SMEs and micro-enterprises. Nonetheless, many of these entities face challenges in securing financing due to insufficient collateral and a lack of standard financial documentation.
Bettr’s partnership with AliExpress has enabled the integration of its AI-driven lending technology into the AliExpress platform, which increases the efficiency and accessibility of financing for sellers. By analyzing merchants’ sales histories and relevant business data, Bettr Working Capital is able to provide customized, affordable loan options. This will assist sellers in managing cash flow, facilitating expansion, and diversifying their product lines.
With AI innovations in credit assessments, Bettr aims to enhance inclusivity in financing solutions. Their alternative data modeling allows for prompt and reliable credit evaluations, even for those businesses lacking conventional financial records. Additionally, Bettr is committed to adhering to Brazil’s regulatory requirements while benefiting from AliExpress’s expansive eCommerce ecosystem. This collaboration enables seamless access to personalized credit options through the merchant portal.
Quan Yu, General Manager of Ant International’s Global Credit Tech commented on the partnership, acknowledging its significance in enhancing financial accessibility for local businesses. He stated, “Our partnership with AliExpress marks a meaningful first step in broadening financial access for local businesses. By harnessing the power of AI… we are dedicated to turning cutting-edge technologies into real and practical solutions… empowering SMEs to unlock new growth opportunities.”
Briza Bueno, the LatAm director of AliExpress also expressed enthusiasm for the alliance, emphasizing its potential to bolster support for sellers in Brazil. She articulated, “This collaboration reinforces our commitment to helping small and medium-sized businesses thrive by providing accessible and efficient financial tools… together, we are building an ecosystem where sellers have more resources and opportunities to innovate, expand…”
The launch of Bettr Working Capital marks a significant advancement in facilitating SME financing in Brazil, a crucial step in supporting the growth of small businesses within the region. Through the integration of AI technology and a partnership with AliExpress, Bettr demonstrates a commitment to enhancing financial accessibility while ensuring compliance with local regulations. This collaboration is poised to empower SMEs to achieve new heights in their business endeavors and contribute positively to Brazil’s economic landscape.
Original Source: ibsintelligence.com
