Ant International’s Bettr has launched a financing solution in Brazil to support SMEs, partnering with AliExpress to introduce Bettr Working Capital, which provides easier access to working capital for local merchants as Brazil’s eCommerce sector grows. The initiative integrates AI technology to enhance credit assessments and ensure compliance with local regulations, addressing the significant financing barriers SMEs face.
Bettr, an AI-driven lending firm owned by Ant International, has launched its operations in Brazil, targeting small and medium-sized enterprises (SMEs) to facilitate their access to financing. This initiative aims to bolster economic growth by directly partnering with local businesses. The first significant step in this direction is the introduction of Bettr Working Capital, a financing solution developed in collaboration with AliExpress, aimed at enabling local merchants to acquire essential working capital essential for growth in Brazil’s prosperous eCommerce sector.
The rollout of Bettr Working Capital will occur in phases, commencing with the disbursement of loans on March 17. Given that Brazil is the largest digital economy in Latin America, many small and micro-businesses are impeded from accessing financing due to challenges such as limited collateral and a lack of standardized financial documentation. Bettr seeks to alleviate these issues by embedding its AI-powered lending technologies into the AliExpress platform to streamline the financing process for merchants.
By examining merchants’ sales records and business data obtained from AliExpress, Bettr Working Capital provides affordable and customized loan options, simplifying fund access for sellers. This enhances their cash flow management abilities, expands their operational capacities, and facilitates entry into new product categories. With an AI-based approach to credit evaluation, Bettr ensures that financing opportunities are inclusive, significantly improving accessibility for businesses lacking conventional financial histories, while ensuring compliance with Brazil’s regulatory standards.
Equally, AliExpress benefits from this amalgamation, offering a seamless integration of financing services within its extensive eCommerce network through its merchant portal. Quan Yu, General Manager of Ant International’s Global Credit Tech, stated the significance of this partnership as a vital first step to enhance financial access for local businesses. He expressed optimism about future expansions aimed at empowering SMEs to leverage AI technology for innovation and growth. Likewise, Briza Bueno, AliExpress’s LatAm director, emphasized the collaboration’s potential in reinforcing resources available to sellers, ultimately contributing to the evolution of eCommerce in Brazil.
In summary, Bettr’s launch in Brazil represents a significant advancement in providing SMEs with necessary financing solutions. Through its partnership with AliExpress, Bettr integrates AI technology to facilitate easier access to capital, addressing barriers that inhibit business growth. This initiative aims to empower local entrepreneurs and contribute to the broader economic landscape, ultimately fostering a more vibrant eCommerce ecosystem in Brazil.
Original Source: ibsintelligence.com
