Ant International’s Bettr launched a new financing solution, Bettr Working Capital, in Brazil, partnering with AliExpress to help SMEs access capital. The initiative aims to support eCommerce growth by overcoming financing barriers faced by local businesses through AI-driven assessments and tailored loan options. The service rollout starts on March 17, focusing on inclusive finance for Brazil’s growing digital economy.
Ant International’s Bettr has launched a new financing solution in Brazil, targeting small and medium-sized enterprises (SMEs). This initiative aims to drive economic growth by collaborating with local businesses. As a primary move, Bettr partnered with AliExpress to introduce Bettr Working Capital, facilitating access to working capital for local merchants on the platform. This service is designed to support businesses in Brazil’s flourishing eCommerce landscape.
The rollout of Bettr Working Capital will occur in phases, commencing with initial loans issued on March 17. Brazil, being Latin America’s largest digital economy, is experiencing significant eCommerce expansion due to a multitude of SMEs and micro-businesses. Many of these enterprises face challenges in obtaining financing stemming from limited collateral and the absence of standardized financial documentation.
Bettr has integrated its AI-driven lending technology into the AliExpress platform, enhancing the accessibility of financing for sellers. By analyzing merchants’ sales and other relevant data, Bettr Working Capital provides customized loan options, aiding sellers in managing cash flow and exploring new product opportunities. This inclusive financing model leverages AI for efficient credit assessments, making it viable for businesses lacking traditional financial records, all while adhering to Brazilian regulations.
The collaboration with AliExpress is strategically beneficial, as the platform’s extensive eCommerce ecosystem ensures a seamless integration of financing solutions, allowing sellers easy access to tailored credit. Quan Yu, General Manager of Ant International’s Global Credit Tech, highlighted this partnership’s significance, emphasizing its role in expanding financial access for local enterprises. He stated the mission of Bettr is to facilitate practical solutions that empower SMEs to drive economic growth.
Briza Bueno, LatAm director of AliExpress, expressed enthusiasm about the partnership, indicating it bolsters support for local sellers. This collaboration aims to enhance operational capabilities for SMEs, thereby contributing to the broader evolution of eCommerce in Brazil. Ultimately, the goal is to cultivate an ecosystem that equips sellers with resources and opportunities to achieve success and innovation.
The launch of Bettr Working Capital by Ant International’s Bettr marks a significant advance in providing essential financial resources for SMEs in Brazil. By utilizing AI-driven assessments and partnering with eCommerce platforms, the initiative addresses key barriers to financing. This collaborative approach is anticipated to foster economic growth and enhance operational success for local businesses, ultimately facilitating broader financial inclusion within the region’s digital economy.
Original Source: ibsintelligence.com
