Ant International’s Bettr has introduced a new financing solution for SMEs, called Bettr Working Capital, in Brazil. This initiative, in partnership with AliExpress, aims to facilitate access to working capital for local merchants, addressing the financial challenges faced by SMEs in the rapidly growing eCommerce sector. Bettr’s technology integrates AI for efficient credit assessments, promoting inclusivity and compliance with local regulations.
Ant International’s Bettr has launched its operations in Brazil, focusing on providing financial support to small and medium-sized enterprises (SMEs). This initiative is part of a strategic partnership with local businesses, aimed at fostering economic development in the region.
The inaugural product, Bettr Working Capital, is a financing solution for local merchants utilizing the AliExpress platform. This service enhances accessibility to working capital, which is essential for sustaining growth within Brazil’s dynamic eCommerce sector.
Bettr Working Capital will be deployed in phases, with the initial loans commencing on March 17. As the largest digital market in Latin America, Brazil is witnessing significant eCommerce growth, largely propelled by numerous SMEs and micro-businesses, many of which encounter difficulties in securing financing due to various constraints.
Through its collaboration with AliExpress, Bettr has embedded its advanced lending technology within the AliExpress framework. By scrutinizing sales data and other pertinent business insights, Bettr offers flexible and cost-effective loan alternatives to entrepreneurs. This innovation facilitates improved cash flow management, allowing businesses to scale and explore new product categories effectively.
Bettr employs AI-driven credit assessments to enhance inclusivity in financing. By utilizing alternative data modeling, it provides swift and precise credit evaluations for businesses lacking conventional financial documentation. Furthermore, the lending services are designed to adhere to Brazil’s regulatory environment, ensuring compliance and trustworthiness.
The extensive eCommerce infrastructure of AliExpress supports the seamless integration of Bettr’s financial solutions, enabling local merchants to access personalized credit directly through the platform’s merchant portal.
Quan Yu, General Manager of Ant International’s Global Credit Tech, commented on the partnership, emphasizing its role in improving financial accessibility for local businesses. He stated, “Our partnership with AliExpress marks a meaningful first step in broadening financial access for local businesses. Bettr looks forward to expanding this impact to more regions. SMEs make up the vast majority of businesses globally, yet many still struggle to secure the funding they need to grow.”
Briza Bueno, the LatAm Director of AliExpress, also expressed enthusiasm for the collaboration, noting its potential to empower local sellers. She stated, “This collaboration reinforces our commitment to helping small and medium-sized businesses thrive by providing accessible and efficient financial tools that can take their operations to the next level.”
The launch of Bettr in Brazil represents a significant advancement in financial accessibility for SMEs within the region. By leveraging AI technology and partnering with AliExpress, Bettr Working Capital aims to address common financing challenges faced by local businesses. This innovative solution is anticipated to enhance growth opportunities, drive innovation, and support the burgeoning eCommerce landscape in Brazil, thereby fostering economic expansion.
Original Source: ibsintelligence.com
