Sasfin takes stake in Payabill
In a move to support growth in SMEs, Sasfin has announced that it has acquired a strategic stake in fintech lender Payabill. The 100% digital lending business provides working capital and/or trade finance to small businesses. The collaboration between Sasfin and Payabill accelerates financing opportunities for customers. Last year Sasfin launched its own digital platform, B\\YOND, for SMEs.
Payabill settles suppliers directly for its clients and allows clients to select their own extended payment terms. Currently, Payabill offers loans of up to R150,000 to businesses. The intention is that with the investment made by Sasfin, Payabill will be able to offer larger loans to SMEs in the near future.