Ant International’s Bettr Launches SME Financing Solution in Brazil

Ant International’s Bettr has launched its AI-driven SME financing solution in Brazil, partnering with AliExpress to introduce the Bettr Working Capital service. This initiative aims to facilitate access to working capital for local merchants by integrating advanced AI lending technology. Bettr’s solution seeks to address funding challenges faced by SMEs and contributes to Brazil’s economic growth by providing tailored financial support.

Ant International’s Bettr has launched its AI-driven lending services in Brazil, aiming to provide financial support to small and medium-sized enterprises (SMEs). By collaborating with local businesses, Bettr intends to foster economic growth, initiating its efforts with a partnership with AliExpress to introduce the Bettr Working Capital financing solution for local merchants.

The Bettr Working Capital service, scheduled to begin issuing loans on March 17, seeks to ease access to working capital for German businesses participating in AliExpress’s eCommerce platform. As Brazil’s largest digital economy experiences significant growth through SMEs and micro-businesses, many of these companies face challenges in acquiring funding due to inadequate collateral and a lack of formal financial documentation.

Leveraging its AI-driven lending technology, Bettr has seamlessly integrated its services within the AliExpress platform, allowing the analysis of merchants’ sales and operational data to provide customized, affordable loan options. This initiative will enable sellers to manage cash flow more effectively, expand their offerings, and enter diverse product categories.

Bettr’s AI-based credit assessments aim to broaden financing access, utilizing alternative data modeling for prompt and precise credit evaluations, even for businesses lacking traditional financial records. Furthermore, Bettr ensures adherence to Brazil’s regulatory requirements while benefiting from the extensive ecosystem offered by AliExpress’s eCommerce framework.

Quan Yu, the General Manager of Ant International’s Global Credit Tech, emphasizes the partnership’s significance in enhancing financial access for local enterprises, stating that many SMEs worldwide struggle to secure necessary funding. With a commitment to transforming innovative technologies into practical solutions through collaborations, Bettr anticipates facilitating growth for SMEs.

Briza Bueno, LatAm director of AliExpress, expressed enthusiasm for the partnership, noting its potential to support local sellers effectively. This cooperation aligns with their vision of equipping SMEs with accessible financial tools that propel their growth, thus contributing positively to the Brazilian eCommerce sector.

The launch of Bettr in Brazil highlights the importance of innovative financing solutions for the growth of small and medium-sized enterprises. Through partnerships with platforms like AliExpress, Bettr enhances access to capital by integrating advanced AI technology into lending processes. This initiative not only aims to empower local businesses but also supports the broader economic development of Brazil’s rapidly growing digital economy. The commitment from both Bettr and AliExpress highlights a shared vision for fostering entrepreneurship and innovation in the region.

Original Source: ibsintelligence.com