The News Room
Flex by Finaxar, powered by Visa, helps SMEs in Southeast Asia control and reconcile expenditures via a unified spend management solution
Singapore-based fintech Finaxar announced today the launch of Flex by Finaxar, a unified spend management solution jointly developed in partnership with leading global payments technology company, Visa. With the aim of providing businesses a platform to unify spend, payables and receivables, the solution is part of Finaxar’s focus to transform and digitise SME finance.
Flex by Finaxar, powered by Visa, helps SMEs in Southeast Asia control and reconcile expenditures via a unified spend management solution
15th Oct 2020Singapore-based fintech Finaxar announced today the launch of Flex by Finaxar, a unified spend management solution jointly developed in partnership with leading global payments technology company, Visa. With the aim of providing businesses a platform to unify spend, payables and receivables, the solution is part of Finaxar’s focus to transform and digitize SME finance. Read More
Financial education vital for SMEs to stay afloat amid and beyond the Covid-19 outbreak
1st June 2020Government support is helpful, but firms should know all financing options available to them. THE financial impact of the Covid-19 outbreak has been massive and is only set to burgeon - with businesses across sectors taking a hit to their chins and many already starting to run into cash-flow difficulties. Whilst companies tussle to keep the lights on during this period, small and medium enterprises (SMEs), in particular, will require an additional leg-up to stay afloat. This is evident from the increase in business loan demands issued by banks since March, exceeding $490m to over 1,200 companies. Read More
With VCs turning cautious, government's extra S$285m to catalyse startup funding timely
May 27 2020The government’s decision to set aside S$285 million more to match private investments in promising startups has been very timely to support young companies amidst the Covid-19 crisis, which has led to a host of challenges including difficulties in getting bank loans. Key Points: S$285 million to be deployed by SEEDS Capital and EDBI to catalyse startup investments. Startups can use the SGUnited Traineeship scheme to build their talent bases. Read More
Singapore Fintech Finaxar Strengthens Leadership
Apr 29 2020The firm, which provides data-driven financial solutions for small and medium-sized firms , has announced several key senior appointments to its senior leadership team to support its growth in Southeast Asia. Finaxar has announced a trio of senior banking and finance industry executives to its leadership as it eyes regional growth and aims to be a major fintech player in the region, the firm said in a statement on Tuesday. Read More
Finaxar is building an alternative to the P2P lending model: Startup Stories
Apr 23 2020Frequently turned down by conventional financial institutions under the pretext that they carry high risk but low returns, small and medium enterprises must be creative in their search for capital. Data and technology can solve the problem. Vihang Patel and Tan Sian Wee noticed the issue when they were both working as advisers at Monk’s Hill Ventures. In 2016, they decided to team up and build Finaxar, a lending platform for SMEs that is linked to a vast amount of data, such as general market information, seasonal patterns, seller performance, and ratings. Read More
Alternative Finance to Help Tide Over Rough Waters
Apr 22 2020A pandemic of epic proportions has long been forecast, but the enormity of challenges stemming from the COVID-19 outbreak has taken the world by shock. Singapore is no exception. The activities of several small and medium enterprises (SMEs) have virtually come to a standstill as a result. This is a challenge for Singapore, as SMEs form the backbone of economic activity here, comprising 99 per cent of the 273,100 business enterprises, and employing 72 per cent of the 3.5 million strong workforce. Read More
Turning Leaders Into Winners
Apr 1 2020The executive coaching business was growing due to strong demand in the past few years, but has faced a slowdown due to the Covid-19 situation. Executive coaching firms are finding new ways to organised classes through online channels as physical classes are cancelled. Firms like Finaxar have plans to engage executive coaches for its key leaders, and have found past classes useful. Read More
Resilience Budget: More support for firms to upgrade capabilities
Mar 27 2020The government has enhanced support levels for the EDG and PSG. As of 1 April, they will be raised to 80%, up from 70% before. The scope of PSG will be expanded to include systems and tools to help SMEs implement safe distancing and business continuity plans. “There are significant cost savings in the enhanced packages, and surviving companies who are already thinking about undertaking such projects will welcome it dearly”, said Finaxar’s CEO and co-founder, Vihang Patel. Read More
Singapore Budget 2020: Boosting confidence in Singapore key to quick recovery: Businesses
Feb 20 2020While Budget measures to help workers and businesses hit by the corona virus outbreak will provide some short-term relief, restoring Singapore's reputation as a safe travel destination is necessary to speed up the rebound, said tourism industry players. Recent developments are keeping visitors away and causing business to go into free fall, they noted. Read More
Here Are the Winners of the Singapore FinTech Hackcelerator and FinTech Awards 2019
Nov 12 2019The Monetary Authority of Singapore announced today the three winners of the Global FinTech Hackcelerator. MAS and The Association of Banks in Singapore also announced the 12 winners of the FinTech Awards. Both awards were handed out today at the Singapore FinTech Festival. The winners of the Global FinTech Hackcelerator, supported by KPMG Digital Village, were selected through the Global FinTech Hackcelerator Demo Day, where they had pitched their innovations to an industry panel of judges. Read More
Singapore-based Finaxar to provide financing solutions on CALISTA
Oct 17, 2019According to a McKinsey Global Institute report, 39 million SMEs in Southeast Asia lacked access to financial support, despite contributing to 40 percent of the region’s GDP. The situation is more challenging for SMEs that require trade financing solutions, because they’re likely to be deemed by banks as low-profit generators. A recent International Chamber of Commerce study shows closing the trade finance gap by attracting more non-bank capital will be the most pressing trade-related issue in the next three to five years. To address these concerns, Singapore-based fintech startup, Finaxar, recently announced a partnership with Global eTrade Services - a global trade platform company. Read More
After P2P lending, an alternative form of credit financing is taking shape
October 10, 2019When Vihang Patel and Tan Sian Wee thought to setup a lending company,they wanted their business to combine what worked and what didn't in the market.It was 2016 and lending sector was at tail end of lending scandals,Loan malpractices and large scale defaults globally. Read More
Singapore-based Finaxar to provide financing solutions on CALISTA
September 19, 2019Singapore-based Finaxar, announces the partnership with Global eTrade Services (GeTs), a global trade platform company. Finaxar provides its unique Lending-as-a-Service to financial institutions, trade and e-commerce platforms using data-driven methods to provide the fast, tailored financing solutions for SMEs. Read More
CALISTA adds lending-as-a-Service partner
September 18, 2019CALISTA (an acronym for CArgo Logistics, Inventory Streamlining & Trade Aggregation) is a platform developed by PSA International Pte Ltd (PSA) in partnership with Global eTrade Services (GeTS) Asia, a fully-owned subsidiary of CrimsonLogic, which is in turn 70% owned by the PSA. Read More
New scheme to level up tech sector amid global talent grab
August 5, 2019The pilot plan unveiled on July 30 to help technology companies in Singapore hire tech talent from abroad signals a "fine-tuning"of the city states labour policy to address local talent shortage in specific tech fields, say economists Read More
Finaxar partnered with Visa to bring unique solutions to market to help all SMEs in the Asia Pacific
20 Mar 2019Visa, the world’s leader in digital payments, announced Finaxar as the winner of the Visa Everywhere Initiative (VEI) 2019 during the Singapore finals. Together with Visa, Finaxar can now streamline business payments and spends for SMEs and draw from Visa’s vast network, experience and products in the Asia Pacific Read More...
Finaxar Featured at the World Economic Forum on ASEAN
08 Sep 2018Some of the most innovative start-up companies from the ASEAN region featured for the first time at the World Economic Forum on ASEAN in Ha Noi, Viet Nam on 11-13 September. Read More...
Lazada partners Finaxar to offer financing for its merchants
24th Aug 2018Local merchants on online marketplace Lazada sellers will be able to get working capital financing through Finaxar’s Merchant Credit Line (MCL) Read More...
Finaxar and Alibaba’s Lazada begins to offer financing for online retailers in Southeast Asia
24th Aug 2018Lazada announced a partnership with Finaxar that will offer paperless and quick business funds to Lazada sellers in Singapore. Read More...
Fintech startup Finaxar in a tie-up with e-commerce giant Lazada to offer loans to its online sellers in Singapore
24 Aug 2018This is an innovative partnership offering a unique credit line called “Merchant Credit Line” helping all the sellers to access a quick working-capital to grow their stores totally hassle-free. Read More...
Finaxar will also offer a credit line option for Lazada sellers, with up to SG$5,000 – SG$1 million
24th Aug 2018Finaxar will offer its services to Lazada sellers in Singapore, with plans to eventually expand to cover other parts of Southeast Asia. The goal is to increase the number of retailers in the region. Read More...
Finaxar works with Lazada to offer financing for online vendors
24th Aug 2018Finaxar announced that these sellers can now apply for loans directly online through the Merchant Credit Line that’s integrated into the Lazada platform. Approvals “can be as quick as 30 minutes” Read More...
Southeast Asia’s e-commerce leader Lazada, in partnership with fintech startup Finaxar, has launched online financing for its sellers in Singapore.
24th Aug 2018Developed by Finaxar, Merchant Credit Line allows sellers to directly access working capital using a fully automated online application process, with credit approval in a short time. Read More...
Finaxar joins hands with Indovina Bank, Cathay Financial to provide SME financing in Vietnam
18th July 2019Singapore-headquartered Finaxar, a provider of data-driven financing solutions, has announced a partnership with Ho Chi Minh City-based Indovina Bank and Taiwan’s Cathay Financial Holdings to provide financing solutions to small and medium enterprise in Vietnam. Read More...
Tripartite partnership to transform SMEs financing
18th July 2019Finaxar Vietnam, Indovina Bank, and Cathay Financial Holdings today announced their partnership to improve access to financing for small- and medium-sized enterprises (SMEs) by offering customers top-notch, innovative, and data-driven financing solutions tailored to SMEs in the Southeast Asian region. Read More...
TP.HCM gia nhập Liên minh đổi mới sáng tạo toàn cầu
18th July 2019Enterprise Singapore - cơ quan chính phủ trực thuộc Bộ Thương mại và Công nghiệp Singapore vừa chính thức mở rộng Liên minh đổi mới sáng tạo toàn cầu (Global Innovation Alliance- GIA) tại TP.HCM. Liên minh này nhằm kết nối các start-up công nghệ của Singapore đến Việt Nam, cũng như tạo ra nhiều sự trao đổi ở cấp độ sinh viên, gồm các cơ hội thực tập cho các sinh viên từ Singapore tại các start-up, công ty tại Việt Nam. Read More...
Singapore’s Finaxar partners Cathay Financial, Indovina to tap Vietnam’s SME market
18th July 2019Finaxar, a Monk’s Hill Ventures-backed fintech lending company, Indovina Bank and Cathay Financial Holdings on Thursday announced a partnership to improve access to financing for small and medium enterprises (SMEs) in Vietnam where SMEs comprise 96-98 per cent of total enterprises. Read More...
Singapore fintech Finaxar announces partnership to support SME financing in Vietnam
18th July 2019Singapore-based fintech company Finaxar has formed a partnership with Vietnam’s Indovina Bank (IVB) and Taiwan’s Cathay Financial Holdings to improve financial access for small and medium enterprises (SMEs) in Vietnam, according to a press statement released today by Finaxar. Read More...
SME Financing in Vietnam can be transformed with the support from Indovina Bank, Cathay Holdings and Finaxar
18th July 2019Finaxar VN, Indovina Bank and Cathay Financial Holdings on Thursday, July 18, 2019 announced its partnership to improve access to financing for small and medium enterprises (SMEs) in Vietnam. Read More...
Tripartite partnership to transform SMEs financing
18th July 2019Finaxar Vietnam, Indovina Bank, and Cathay Financial Holdings today announced their partnership to improve access to financing for small- and medium-sized enterprises (SMEs) by offering customers top-notch, innovative, and data-driven financing solutions tailored to SMEs in the Southeast Asian region. Read More...
Tripartite partnership to transform SMEs financing
18th July 2019Finaxar Vietnam, Indovina Bank, and Cathay Financial Holdings today announced their partnership to improve access to financing for small- and medium-sized enterprises (SMEs) by offering customers top-notch, innovative, and data-driven financing solutions tailored to SMEs in the Southeast Asian region. Read More...
Finaxar mở rộng liên kết nhắm cung cấp dịch vụ tài chính cho SMEs Việt
19th July 2019Finaxar của Singapore và ngân hàng Indovina Bank Việt Nam đã ký ghi nhớ hợp tác (MOU) cung cấp giải pháp tín dụng tự động và trực tuyến đầu tiên trong khu vực, được thiết kế dành riêng cho các doanh nghiệp vừa và nhỏ, với tên gọi Finanxar Credit Line (FCL). Read More...
Cathay Financial, Indovina Bank, Finaxar tie-up to improve SME financing in Vietnam
18th July 2019VIETNAM’S small and medium enterprises (SMEs) can now access up to 500 million dong (S$29,220) in funds online, under a new cross-border partnership to improve access to SME financing. Read More...
Enterprise Singapore expands innovation alliance network to Ho Chi Minh City
19th July 2019Enterprise Singapore has expanded the Global Innovation Alliance network to Ho Chi Minh City, plugging Singapore technology start-ups into the emerging innovation scene in Vietnam. Read More...
Singapore FinTech Finaxar announces strategic partnership with Vietnam’s Indovina Bank
20th July 2019The Singapore-based FinTech has entered a partnership with both Indovina Bank (IVB) and Taiwan’s Cathay Financial Holdings, with the intent of improving financial accessibility into Vietnam for small and medium-sized businesses by providing streamlined access to working capital. Read More...
Startup kết nối ngân hàng và doanh nghiệp nhỏ gia nhập thị trường Việt
19th July 2019Finaxar đến từ Singapore, cung cấp giải pháp cấp tín dụng trực tuyến lên đến 500 triệu đồng cho doanh nghiệp vừa và nhỏ, giải ngân trong 48 tiếng. Read More...
Indovina Bank, Cathay Holdings and Finaxar partners to finance Vietnamese SMEs
19th July 2019HÀ NỘI — Finaxar Việt Nam, Indovina Bank and Cathay Financial Holdings on Thursday announced a partnership to improve access to financing for small and medium enterprises (SMEs) in Việt Nam. Read More...
Global Innovation Alliance network expands to Vietnam
19th July 2019ESG, Quest Ventures and SIHUB will help Singapore startups set up, test-bed and commercialise their solutions in Ho Chi Minh City. Singapore’s technology startups and small and medium-sized enterprises (SMEs) will gain access to Vietnam’s market following the expansion of the Global Innovation Alliance network to Ho Chi Minh City, an announcement by Enterprise Singapore (ESG) revealed. Read More...
Liên minh Đổi mới Sáng tạo Toàn cầu mở ra nhiều cơ hội cho startup và doanh nghiệp Việt Nam
19th July 2019Enterprise Singapore vừa chính thức thông báo mở rộng “Liên minh Đổi Mới Sáng Tạo Toàn Cầu” Global Innovation Alliance (GIA) tại Thành phố Hồ Chí Minh vào hôm 18/7/2019. Read More...
Indovina Bank, Cathay Holdings & Finaxar partner in SME financing
19th July 2019Indovina Bank, Cathay Financial Holdings, and tech firm Finaxar Vietnam announced on July 18 a partnership to improve access to financing for small and medium-sized enterprises (SMEs) in Vietnam. Read More...
Indovina Bank, Cathay Holdings, Finaxar partner to finance SMEs
21st July 2019Finaxar Vietnam, Indovina Bank and Cathay Financial Holdings have announced a partnership to improve access to financing for small and medium enterprises (SMEs) in Vietnam. The partnership will provide working capital for SMEs that are growing fast in the region. SMEs comprise 96-98 percent of enterprises operating in Vietnam, but up to 60 percent are still unable to access credit to fuel their growth. Read More...
