Fynance offers Pay Later for supply chain financing

Monday 27 June 2022 12:16 CET | News

Malaysia-based supply chain financing company Fynance has launched Pay Later for the financing needs of businesses in Malaysia.

Fynance is a recently launched supply chain financing company with the vision to help SMEs grow their company through their way of providing cash flow.

Maintaining a healthy cash flow is one of the top challenges for small and growing businesses in Malaysia. Companies juggle cash from customers to pay for stock, employees, and expenses. In many cases, money from profits is insufficient to reinvest and grow the businesses further while settling outstanding payments, as per the press release.

The benefits of Fynance Pay Later solutions may vary from business to business. For example, some businesses may require the liquidity to invest in more stock, whereas others may need the extra cash to invest in machinery to produce more efficiently.

To apply for the Pay Later financing, businesses need to sign up on the company’s platform and upload some financial documentation and company details. The Fynance team will then determine how much of their invoices from suppliers they willing to fund after they do their credit checks. Upon approval, businesses can then utilise the service to pay their suppliers and gradually settle their repayment with Fynance in flexible instalments. Fynance Pay Later also gives registered suppliers the option of selling it their receivables so they can have access to cash instantly.

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Keywords: supply chain finance, BNPL, product launch, SMEs, SME lending
Categories: Payments & Commerce
Companies: Fynance
Countries: Malaysia
This article is part of category

Payments & Commerce


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