Nufin Data Brings Faster, Easier Financing to Malaysian SMEs
Nufin Data, a Singapore-based fintech firm makes its entrance into Malaysia with NEMO, a cloud-base financing platform that offers quick access to alternate financing for Small Medium Enterprises (SMEs).
NEMO, which stands for “New Efficiencies. More Options” is the flagship product of Nufin Data that makes it possible for companies to use their current trade to finance their future trade.
“Traditionally, it’s a lot of hassle and a lot of time is taken for an SME to submit documents to get financing. NEMO makes it easy for businesses to digitise and submit their documents on the platform, giving them access to fast cash flow,” says Nufin Data’s Managing Director, Denise Ang, who also added that the company is targeting to service fast growing markets in Malaysia, Singapore, Indonesia and China.
NEMO’s supply chain financing platform connects buyers and suppliers, leveraging on strong buyers with good credit to enable their suppliers access to lower cost financing. This is offered by Nufin Data’s own proprietary fund and partner funders.
Aside from offering financing options, NEMO also enables SMEs to digitise their processes with value-added tools. Users are be able to receive digital invoices from suppliers to reduce the hassle of handling stacks of paper. Upcoming digital features that will be available on NEMO include a tool to strategise and speed up collections, and visibility to plan and manage operating cash flow.
Enterprises that sign up for NEMO before July 31, 2019 will obtain a six month fee waiver and savings of up to RM3,000 off their first invoice financed through the platform.