Triterras & Card Cutters to offer digital working capital to SMEs in UAE
By Delisha Fernandes
Triterras, a FinTech company, has partnered with Card Cutters to promote its working capital lending solutions to SMEs in the UAE.
The initiative is part of the Company’s larger strategy to partner with e-commerce and point-of-sale (POS) platform providers, to offer an end-to-end digital lending solution to their clients.
“We are delighted to announce this collaboration with Card Cutters. We believe that our alliance provides an additional value-added benefit to Card Cutters’ offerings, where critically needed working capital will be made available to their clients, and funders on our Kratos™ platform will have access to attractive lending opportunities that they otherwise would not have available to them” said Srinivas Koneru, Chairman and Chief Executive Officer Triterras.
The Triterras’ ecosystem brings together funders and micro, small and medium enterprises (“MSME”) borrowers to drive access and efficiency for all parties. The Kratos™ blockchain-enabled platform is powered by advanced credit analysis tools and revenue-based financing analytics and facilitates transactions in a completely digital environment.
Card Cutters is one of the fastest-growing Merchant Services companies operating within the Emirates, offering a wide range of credit and debit card processing services and the latest chip and pin solutions. Based in Dubai and Abu Dhabi, Card Cutters UAE provides their client base with POS terminals, credit card machines and web-based payment gateways.
Triterras’ e-commerce lending program is designed for many e-commerce platform applications, including e-commerce aggregators, e-commerce marketplaces and POS service providers. The Company has demonstrated the ability to provide capital to micro and small business customers in collaboration with various platform providers. The program is offered in the UAE through Triterras’ Invoice Bazaar subsidiary.
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