Invoice Bazaar partners with RSA Global to help businesses with Inventory Finance solutions
RSA Global, a supply chain solution provider headquartered in Dubai, has signed a strategic partnership with Dubai-based Invoice Bazaar to help businesses get liquidity towards supplier payments in the form of inventory finance. This partnership allows RSA Global to introduce financing options to its customers to get liquidity against inventory held at RSA facilities.
The proposed solution would benefit businesses that deal with fast-moving commodities and goods that are liquid in nature, allowing them to access supplier payment lines against the inventory held as a collateral for up to 90 days. Businesses that expect to liquidate their inventory within three months would find this solution attractive as they can generate cash to procure more without waiting for the existing inventory to be fully sold.
"Invoice Bazaar is the perfect fit for us. This partnership enables us to open the door to our existing customers that already have shown a lot of interest in availing these services. This solution is also beneficial to SMEs as they would be able to find a one stop solution for their supply chain as well as working capital requirements," said Abhishek Ajay Shah, co-founder and Group CEO, RSA Global.
Invoice Bazaar helps small businesses to get access to working capital. The company has partnered with RAKBANK where it runs a joint supply chain finance program that supports small vendors to cash their receivables early from large corporations. Invoice Bazaar's solutions are focused around digital customers including vendors on Amazon, restaurants selling on online ordering platforms, and e-commerce businesses using payment gateways. Invoice Bazaar has helped small businesses with cash receivables of over US$125million so far.
“The partnership with RSA Global gives us ready access to a large pool of customers that use RSAs logistics facilities in the UAE. This partnership also helps us expand our basket of products by adding Inventory Finance as a solution that has been a requirement in the market but unmet by the existing banking infrastructure,” added Anand Nagaraj, co-founder and CEO of Invoice Bazaar.