Bettr, an AI-enabled lending business from Ant International, has launched in Brazil to improve financing for SMEs by partnering with AliExpress and introducing Bettr Working Capital. This initiative aims to support local enterprises struggling to secure funding in Brazil’s growing eCommerce market through innovative financing solutions and AI technology.
Ant International’s Bettr has launched its services in Brazil, focusing on enhancing financing solutions for small and medium-sized enterprises (SMEs). This initiative seeks to collaborate with local businesses to foster economic development in the region, leveraging Bettr’s AI-driven technology to facilitate access to funds for SMEs struggling with traditional financing hurdles.
In its initial move, Bettr partnered with AliExpress to introduce Bettr Working Capital, specifically designed for local merchants on the platform. This financing solution aims to simplify the acquisition of working capital, enabling businesses to thrive within Brazil’s burgeoning eCommerce sector. The phased rollout will commence with the issuance of loans on March 17.
Brazil stands as Latin America’s largest digital economy, characterized by rising eCommerce activity fueled by millions of SMEs. Unfortunately, many of these businesses encounter obstacles such as limited collateral and inadequate financial documentation, hindering their access to necessary funding. Bettr addresses these challenges through technological integration, utilizing AI analytics to provide tailored loan options based on merchants’ sales data from AliExpress.
By adopting AI-driven credit assessments, Bettr champions inclusive financing for businesses lacking conventional financial records. The innovative model allows for prompt and precise credit evaluations, facilitating quick access to funds for SMEs while adhering to Brazil’s regulatory standards. Furthermore, the cooperation with AliExpress ensures seamless integration of financing solutions, allowing sellers to access credit directly through the merchant portal.
Quan Yu, General Manager of Ant International’s Global Credit Tech, expressed, “Our partnership with AliExpress marks a meaningful first step in broadening financial access for local businesses.” He emphasized the importance of empowering SMEs to overcome funding challenges and innovate, aligning with Bettr’s mission to create beneficial changes in the economy.
Briza Bueno, Latin America Director of AliExpress, stated, “We are very excited about this partnership with Bettr, which will further enhance the support offered to local sellers in Brazil.” This collaboration reiterates AliExpress’s commitment to advancing eCommerce by equipping local businesses with the financial resources needed to excel.
The launch of Bettr’s financing solution in Brazil represents a significant advancement in supporting local SMEs. By utilizing AI technology and partnering with AliExpress, Bettr enhances access to funding, alleviating traditional barriers to financing. This initiative not only benefits individual businesses but also contributes positively to the overall eCommerce landscape in Brazil, fostering growth and innovation within the sector.
Original Source: ibsintelligence.com
