Trade Lenda operates as a digital bank providing MSMEs with access to financing solutions like working capital, invoice discounting, and asset financing. The platform simplifies B2B financing by offering quick loan access without collateral requirements. It also supports sectors such as FMCG, clean energy, and agriculture with tailored funding options.
Funding
$726.1K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
EDGKVSSFounders
Product
Problem
MSMEs often struggle to access working capital due to collateral requirements, lengthy application processes, and the perceived risk associated with lending to small businesses. This lack of access to funds hinders their ability to manage operations, fulfill purchase orders, and capitalize on growth opportunities.
Solution
Trade Lenda provides a digital finance platform that offers MSMEs quick access to working capital, invoice discounting, and purchase order financing. The platform streamlines the application process and eliminates the need for collateral by leveraging alternative data to assess creditworthiness. Through Trade Lenda, businesses can secure funding within hours, enabling them to efficiently manage cash flow, fulfill orders, and invest in expansion. The platform also offers financial literacy resources, micro-investment opportunities, and insurance products tailored to the needs of MSMEs.
Target Audience
Trade Lenda primarily targets micro, small, and medium-sized enterprises (MSMEs) across various sectors, including general merchandise commerce, fast-moving consumer goods (FMCG), clean energy, and agriculture.
Features
- Streamlined online application process with minimal documentation requirements
- Automated credit scoring using BVN and alternative data sources
- Working capital loans, invoice discounting, and purchase order financing options
- Disbursement of funds within 6 hours of approval
- Integration with insurance providers for credit life assurance and other coverage options
- Mobile app for convenient access to financing and account management
- Loan calculator for estimating repayment schedules
- End-to-end encryption to protect user data and ensure secure transactions