24-Aug-18, TechCrunch
Alibaba’s Lazada is introducing new credit options for SMEs as it aims to boost the number of retailers in Southeast Asia, the region with 650 mn consumers.
%20TechCrunch.jpg "Alibabas Lazada to offer financing for online retailers in Southeast Asia (c) TechCrunch")
Image: TechCrunch
The firm announced a partnership with Finaxar that will see the fintech offer its services to Lazada sellers in Singapore. There are plans to expand the arrangement to cover other parts of Southeast Asia in the future.
Two-year-old Finaxar will provide a credit line option of up to USD730k for Lazada sellers, as opposed to more structured financing such as loans.