Ant International’s Bettr has launched in Brazil to improve SME financing in the region. Partnering with AliExpress, Bettr introduces Bettr Working Capital to facilitate access to working capital for local merchants. The solution utilizes AI technology for credit assessments, ensuring compliance with regulations and supporting economic growth.
Ant International’s Bettr has initiated its operations in Brazil, aiming to enhance financing options for small and medium-sized enterprises (SMEs). The venture will promote economic growth within the region through collaborations with local businesses.
In a significant development, Bettr has partnered with AliExpress to launch Bettr Working Capital, a financing solution designed for local merchants on the platform. This initiative aims to simplify access to working capital, thus supporting businesses in Brazil’s flourishing eCommerce sector.
The implementation of Bettr Working Capital will occur in phases, initiating with loan issuance set for March 17. Brazil, recognized as Latin America’s predominant digital economy, is experiencing rapid growth in eCommerce. However, many SMEs face challenges accessing financing due to inadequate collateral, inconsistent financial records, and other obstacles.
Bettr has effectively incorporated its AI-driven lending technology into the AliExpress platform, which enhances access to financing for merchants. By analyzing sales records and related business data, Bettr Working Capital delivers customized, affordable loan options, thereby facilitating easier fund access, cash flow management, and potential business expansion.
The AI-driven credit assessment offered by Bettr promotes inclusive financing. Its innovative model utilizes alternative data for swift and accurate credit evaluations, accommodating businesses that lack conventional financial records. Compliance with Brazil’s regulatory requirements is also a priority for Bettr, while AliExpress’s robust eCommerce ecosystem simplifies the integration of financing solutions for sellers.
Quan Yu, General Manager of Ant International’s Global Credit Tech, stated, “Our partnership with AliExpress marks a meaningful first step in broadening financial access for local businesses. … By harnessing the power of AI and collaborating with diverse local partners, we are dedicated to turning cutting-edge technologies into real and practical solutions.”
Briza Bueno, LatAm director of AliExpress, remarked, “We are very excited about this partnership with Bettr, which will further enhance the support offered to local sellers in Brazil. … Together, we are building an ecosystem where sellers have more resources and opportunities to innovate, expand, and reach new levels of success.”
In conclusion, Ant International’s Bettr is set to transform SME financing in Brazil through its collaboration with AliExpress. By launching Bettr Working Capital, the initiative aims to alleviate financing barriers faced by local businesses, thereby fostering economic development. With cutting-edge AI technology and compliance with regulatory standards, Bettr demonstrates a commitment to empowering SMEs and enhancing their participation in the growing eCommerce landscape.
Original Source: ibsintelligence.com
