Gotyme Indonesia has partnered with Danabijak and Olsera to introduce the Merchant Cash Advence (MCA) program aimed at providing fast and flexible funding to MSMES.
This is said to be the first MCA offering in Indonesia, following a similar initiative by GoTyme in South Africa, the Philippines and Vietnam.
The program allows merchants who are eligible to access business loans without requiring collateral using the Olsera Point-of-Sale platform.
The application process is completely digital and can be reportedly completed within 10 minutes.
Rather than requiring a fixed monthly payment, the MCA offers flexible loan amounts and repayment terms that adjust based on weekly sales and business seasonality.
This means that repayments fluctuate along the business’s revenue cycle.
There are no hidden fees or penalties.
Authorized loans are usually paid within two business days.
Gotyme Indonesia Director Tim Delahunty said that MSMEs play a key role in Indonesia’s economy, with over 65 million MSMEs employing over 120 million Indonesians, contributing 60% annually to GDP It emphasizes what you are doing.
He said,
“We have seen very positive changes in the Indonesian regulatory framework, but we believe that Indonesian companies deserve more innovative credit solutions. The MCA is our response to this. It’s completely digital. Fast funding to deal with the pain that many business owners experience with access to application processes, immediate approvals, and capital.
Additionally, loan repayments will adapt to the seasonality of the business, tailoring to the merchant’s cash flow cycle. From experience in other markets, 80% of MSMEs using MCA solutions report business growth as a result. Working with Danavijak as our licensing lending platform, Orcela as our first partner, has now been able to bring this innovation to Indonesian business owners. ”
Danabijak CEO Markus Prommik has expressed his company’s enthusiasm for the partnership and the potential to empower MSMES.
Olsera CEO Novendy Chen highlighted the company’s commitment to supporting MSME’s growth and development through solutions such as Gotyme Modal.
Tyme is a multinational financial services group headquartered in Singapore, has a technology and product development hub in Vietnam, and operates digital banks in several countries, including Tymebank in South Africa and GoTyme in the Philippines. It’s there.
The group had Raised USD 250 million in Series D funding roundIt was valued at US$1.5 billion in December last year.
Tyme currently serves more than 16 million customers across the group.
Featured Image Credits: Edit Freepik
