New collaboration will provide finance to both importers and exporters on the Alibaba platform for the first time
Monday 12 October 2015 – An innovative collaboration between Australian Fintech lender GetCapital and Alibaba.com, the leading platform for global wholesale trade, owned by Alibaba Group (NYSE:BABA), will provide Australian importers and exporters with finance options on the Alibaba.com platform for the first time.
The agreement will see GetCapital offering line of credit finance to local businesses through Alibaba.com’s e-Credit line facility. Australian Alibaba customers will be able to access finance for either import or export transactions anywhere across the globe. In other parts of the world, Alibaba.com’s e-Credit line is available only for import transactions from Chinese suppliers.
Jamie Osborn, CEO of GetCapital said the partnership with Alibaba.com reflected GetCapital’s growing reputation for flexible, innovative financing solutions and presented an exciting opportunity to further serve Australian SMEs.
“GetCapital exists to support the growth of Australian small and medium businesses by providing access to fast, efficient and flexible capital. Given the enormous participation of SMEs on Alibaba.com, it is a perfect platform to ensure our services are readily available to all Australian businesses when they need them,” he said
“Whilst Alibaba has finance partners in other countries, our collaboration with Alibaba is a world first – offering financing to support purchases on Alibaba from any country, as well offering finance to support suppliers on the Alibaba platform. This collaboration will address the biggest problem businesses face in buying and selling in international markets – namely, access to a reliable source of funding for working capital. We look forward to working with Australian businesses, through Alibaba, to provide the capital they need to grow their operations and their international trade” he said.
Eric Sin, Strategic Partnership and Global Business Development, Senior Manager at Alibaba.com said that teaming up with GetCapital significantly expanded Alibaba.com’s existing services and would allow the opportunity for Australian customers to obtain capital through a local lender at privileged terms.
“Our priority is to find new and innovative ways to support the 1.9 million Australian SMEs that do business through Alibaba.com. By introducing our members to GetCapital’s financing solutions, we hope to provide more access to finance for Australian businesses selling to overseas buyers and sourcing from global suppliers through Alibaba.com for the first time,” he said.
From today, Australian-based businesses will be able to apply for an Alibaba e-credit line provided by GetCapital through a streamlined, online application process that takes no more than 5 minutes to complete.
For more information on Alibaba.com’s e-Credit Line with GetCapital, please contact GetCapital at https://www.getcapital.com.au/alibaba/ or 1300 249 649.
GetCapital is aleading Fintech lender to small and medium businesses in Australia. Using up to date business data, technology and patented credit processes, GetCapital offers a range of credit facilities to small business via a fast and simple online process. GetCapital offers a full range of financial products to business including working capital facilities, equipment finance, trade finance and invoice discounting and can tailor solutions to meet the specific needs of growing businesses.
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