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Challenge
In the summer of 2020, one of SPD Group’s eCommerce clients recommended us to a Western lender that intended to implement a complex Fintech software product. The company is a well-established provider of business funding and real-time financing. As of early 2023, they have funded several thousand businesses for a total amount of $ 250 + million.
At the time they got referred to SPD Group, the client already owned an SMB lending app for long-term lending. To increase their business presence and diversify their service offering, the lender made a decision to develop a larger-scale SMB lending platform. In addition to SMB funding, the platform was to allow the client to provide short-term lending to diverse merchants in various industries against future receivables (or proof that the corresponding funds were due to these merchants at a near date). The solution aimed to immediately provide merchants with the working capital they needed, thus eliminating any weekend- or holiday-related delays and the resulting extended settlements.
After a detailed discussion, the client engaged SPD Group to implement the whole of their project.
Read the full article here: https://spd.group/cases/case-study-developing-a-high-scale-smb-funding-platform/