Firm will Introduce Merchant Financing Program.

0 131

Akshay Grover, the chief executive officer of the Pan-African fintech company Cellulant Group, which has operations in 18 countries, stated that the company has finalized preparations to introduce its merchant financing solution, which would provide working capital to small firms.

In a statement, Grover said that the new solution would provide short-term operating capital in collaboration with banks and financial institutions based on the profiles the firm had developed for business owners over time.

The company has access to a lot of data, the chief executive claimed in a statement to the media, and it would use artificial intelligence technologies on the data to produce precise profiles of consumers’ creditworthiness.

Each business would receive a score that would be converted to their credit limit. Grover said this would enable the firm to disburse funds to the merchants for a period of seven to 90 days. He said the firm was already piloting the solution in one of its markets with high hope of getting into Nigeria in the next couple of months.

Punch

Leave A Reply