Absa and Rise Africa Service SMEs with RainFin TechnologyFeb 26, 2016 RainFin In the news RainFin , SME
RainFin and Absa have announced a strategic partnership to help offer SMEs unsecured working capital term loans.
IT-Online reports on the partnership, quoting RainFin founder Sean Emery as saying that “RainFin gives Absa’s business bankers the opportunity to offer clients a very efficient digital mechanism to complement their present SME customer value proposition, while RainFin can significantly scale the volumes on its credit marketplace.”
The article also looks at the larger relationship between Barclays Africa and RainFin, which began in 2014. Barclays owns a 49% share in RainFin and quotes Paul Nel, the Head of Innovation a Barclays Africa as saying
“The RainFin story is a great example of Barclays’ Rise Africa mandate which is to connect, co-create and scale tomorrow’s products and services, faster and cheaper.”
Read more about the organic growth of RainFin, which connects over R1-million per day of lenders and borrowers, below.