Ant International’s Bettr has introduced Bettr Working Capital in Brazil, a financing solution for SMEs, to support economic growth. Partnering with AliExpress, Bettr aims to simplify access to working capital for local merchants, enabling them to thrive in Brazil’s expanding eCommerce market. Utilizing AI technology, Bettr provides customizable loan options while ensuring adherence to regulatory standards, promoting efficient financing solutions.
Bettr, an AI-driven lending business under Ant International, has launched its operations in Brazil, focusing on financing small and medium-sized enterprises (SMEs). In collaboration with local partners, Bettr aims to enhance economic development within the region.
In its inaugural initiative, Bettr has partnered with AliExpress to introduce Bettr Working Capital, a financing solution targeted at local merchants. This new offering seeks to simplify access to working capital, thus empowering businesses within Brazil’s rapidly growing eCommerce sector.
The phased rollout of Bettr Working Capital is set to commence, with the first loans scheduled for distribution on March 17. As the largest digital economy in Latin America, Brazil’s eCommerce growth relies heavily on millions of SMEs and micro-businesses, which often face financing obstacles due to inadequate collateral and inconsistent financial records.
Bettr’s integration of AI-enabled lending technology into the AliExpress platform enhances the accessibility and efficiency of funding for sellers. By evaluating merchants’ sales data from AliExpress, Bettr Working Capital formulates affordable and customized loan options, thereby facilitating fund access and aiding business expansion.
Employing AI-based credit assessments, Bettr promotes inclusive financing solutions. Its innovative alternative data modeling allows for swift and precise credit evaluations, accommodating businesses lacking traditional financial documentation. Additionally, Bettr ensures its services adhere to Brazil’s regulatory standards, while AliExpress provides a robust ecosystem for seamless financing integration.
Quan Yu, General Manager of Ant International’s Global Credit Tech, highlighted the significance of this partnership, emphasizing its role in enhancing financial access for local businesses. He stated, “Our partnership with AliExpress marks a meaningful first step in broadening financial access for local businesses… empowering SMEs to unlock new growth opportunities.”
Briza Bueno, LatAm director of AliExpress, expressed enthusiasm about the collaboration, citing its potential to advance support for small businesses. She remarked, “This collaboration reinforces our commitment to helping small and medium-sized businesses thrive by providing accessible financial tools… contributing to the advancement of eCommerce in the country.”
Overall, this initiative stands as a pivotal contribution to the financial landscape for SMEs in Brazil, striving to enable enhanced growth and innovation within the sector.
The launch of Bettr Working Capital by Ant International’s Bettr represents a significant milestone in support of small and medium-sized enterprises in Brazil. By leveraging AI technology and forming vital partnerships, the initiative addresses financing challenges faced by many local businesses. This collaboration not only enhances financial accessibility for merchants but also fosters eCommerce growth in the region, thereby contributing to the broader economic environment. Noteworthy leaders have affirmed the importance of such partnerships in empowering SMEs to thrive.
Original Source: ibsintelligence.com
