Symplefy is an innovative invoice financing platform providing working capital to small to medium size enterprises (SMEs) in Southeast Asia to improve cashflow and accelerate growth.
Symplefy is an Innovative Invoice Financing Platform providing working capital to small to medium size enterprises (SMEs) in Southeast Asia to improve cashflow and accelerate growth.
Key Reasons to Invest:
- There is a HUGE market opportunity: SMEs need $300 billion in working capital to meet their current production orders.
- The ASEAN economy is expected to become the 4th-largest economy in the world by 2030, growing at a pace of over 5% per year.
- SMEs also contribute anywhere from 30% to 53% of their respective nations’ GDP.
- ASEAN regulatory framework is catching up, providing opportunities for FinTech.
- Experienced Management Team: 4 Exits between the Founders in the Finance and Banking sector.
Financing is Severely Limited for Small Businesses
- 41% of micro, small and medium enterprises (MSMEs) in emerging markets currently have unmet financing needs*.
- This funding gap presently stands at around $5 trillion, which is 1.3x the current level of available financing*.
- The funding gap in Southeast (SE) Asia, one of the world’s most dynamic and fastest-growing regions, stands at roughly $300 billion*.
* SME Finance Forum, July 27, 2020
The Symplefy Solution
Symplefy is a scalable working capital platform that grows with a company’s business. We provide easy and fast access to funds from a company’s unpaid invoices for amounts from $10,000 to $1,000,000.
We utilize sophisticated mathematical models based upon forensic accounting science to underwrite, reduce and mitigate the risk associated with the lack of reliable data on firms for determining their credit-worthiness.
A Simple Solution to Boost Working Capital
If a company offers payment terms of more than 30 days to customers, Symplefy's innovative invoice finance solution allows a company to access up to 80% of the money it's owed in unpaid invoices with a flexible line of credit offering:
- No minimum contract period.
- No minimum spend.
- No hidden fees.
- No personal guarantees.
Here is how it works:
Want invoice payments earlier? Planning to expand business? A business can obtain working capital loans at attractive, low interest rates and take their business to the next level by:
- Unlocking capital trapped in unpaid invoices.
- Receiving funds to capitalize on new business opportunities.
- Having the flexibility to finance invoices as and when it needs.
Why Choose Symplefy
- Attractive interest rates from 1%/month.
- Transparent, simple fees.
- Loan approval outcome in 48 hours.
- Loan facility is confidential, we do not contact the business' customers.
Symplefy is a lending platform that matches borrowers with investors seeking attractive risk-adjusted returns.
Our Business Model is as Simple as 1 - 2 - 3 ...
- SMEs request a loan. Borrowers apply for funding on our platform and get screened by our credit and risk team.
- Investors fund loan facilities. Loan facilities get funded by our reliable network of investors.
- Disbursement of funds; interest repayments. Borrowers get funded and investors receive interest when loan repayments are made.
Symplefy earns revenue by:
- Charging a 1% draw down fee to the borrower each time an invoice is financed
- Charging a 20% flat fee to the lender on earnings received from the loan.
Symplefy has been gaining traction in the Southeast Asian markets by working with clients to establish key relationships. We have been working with numerous companies to get them on our platform, and accelerate their business growth.
We have also been working with Southeast Asian governments to establish credibility and regulatory compliance within the region.
Client Showcase: Dingo Cement
Dingo is an Australian-based company that manufactures cement products in Vietnam and sells them into the Australian and U.S. markets. A key customer is Bunnings, a large, Australian listed home improvement retailer.
Bunnings was interested in placing more orders and expanding the relationship; however, Bunnings insisted on 60-day payment terms.
These payment terms placed Dingo Cement in a precarious cash flow position.
Symplefy stepped in and provided invoice financing to alleviate the negative impact.
Incumbent Banks and the current Fintech offerings have shown over the years that they are unable to satisfy the requirements of SMEs due to a variety of reasons:
- Lack of accurate and verifiable financial information
- Lack of regulatory guidelines to perfect collateral
- Unable to control payments
- Antiquated underwriting guidelines
- Weeks to months to make a loan decision
Symplefy's Competitive Advantage
1. We change the underwriting & risk paradigm
- Financial information in emerging markets is unreliable, often inaccurate and not easily verifiable.
- We underwrite the payment history of the buyer: multinational, listed companies in the U.S, Europe, UK, Australia, New Zealand, Singapore or Hong Kong. Why? It allows us to obtain transparent, reliable financial information on which to base a credit decision. We underwrite the credit based upon the buyer's ability to pay back the loan, not the borrowers.
- We control the payment remittance: invoices are paid into the borrowers account maintained and controlled by Symplefy whereby the loan is repaid.
2. We utilize automated AI-driven investment
- We utilize “pool funding” by industry, tenor, geography, buyer locale and invest a portion of the investor's funds across a diverse number of loans vs. individual loan funding. This reduces the risk of investing in a single or small number of loans.
3. We have a simple, easy, transparent product
4. We utilize our technology and data to build a reliable credit database for AI-driven decisions
- Proprietary data and analytics provide a granular view of each customer
- Two-sided marketplace produces data from both investor and borrowers to best match each party’s risk profile
- Long-term, we are creating a reliable, verifiable credit bureau
Our Target Market
Our initial market will be Vietnam, only one of two countries in the world that had positive economic growth in 2020. Then expand to Thailand, Indonesia, Malaysia, Philippines and Singapore.
We target a variety of sectors, such as:
- Textiles & Garments
- Machinery & Parts
- Phones & Accessories
Financing made Simple
We started Symplefy to make it quick, easy and affordable for small, emerging market businesses to access financing. It’s really that simple.
Banks reject 80% of small business loan applicants, who end up trading their big ideas for ordinary ones because they can’t get the funding they need.
We’re creating a new reality for emerging market, small business owners. We’re helping them get loans that back up their ambition so they can be more than just entrepreneurs ... they can build dreams.