Australia’s Grapple Launches B2B Payment Solutions for SMBs

Australia-based FinTech Grapple has launched a pair of B2B payments solutions designed to help small- to medium-sized businesses (SMBs) improve their cashflow.

As the website Austrian Fintech reported Friday (July 22), Grapple Pay lets businesses register on the Grapple platform and pay suppliers upfront, and make payments back over four monthly instalments.

Meanwhile, Grapple Now provides businesses immediate invoice payments while giving customers the option of paying in four monthly instalments.

“SME lending needs are becoming increasingly diverse, and a large sector of the market remains underserviced by the banks and traditional financiers,” said Steve Dawson, Grapple’s CEO and founder.

“The traditional property-backed loan is often a less efficient or accessible means of financing for many SMEs, and for many others it just results in a lot of administration and a higher cost of capital,” Dawson said. “Grapple Pay and Grapple Now can be tailored to the growth trajectory of any business and allows SMEs to access smaller amounts of capital in an easier and cheaper format, helping them grow.”

The company launched the two products across Australia following a six-week beta test in which more than 100 SMBs transacted on the platform, and more than 5,000 businesses registered with Grapple.

In a recent report, PYMNTS identified lack of financing alternatives as one of the chief pain points affecting SMBs.

Learn more: SMBs Struggle to Overcome Four Business Payments Frictions

As our report noted, allowing platform clients to pick their preferred method of payment for each transaction gives them flexibility and eliminates the need to seek out a payment type that works for buyers, suppliers and customers at the same time.

See also: Tribal Credit Offers Expense Management for MSMEs

This week also saw global FinTech firm Tribal Credit launch its expense management platform, giving SMEs in the Middle East and North Africa (MENA) greater control over their spending.

“An instrumental factor in the growth of SMMEs is the control and monitoring expenses,” said Amira Fadel, regional manager for Tribal MENA. “By automating these processes and analyzing data, digital platforms specialised in these areas can greatly improve companies because they provide finance teams with a clear picture of expenditures, allowing them to focus on providing value and creating growth.”