Aussie business-loan provider Bizcap officially launches Singapore operations

Bizcap will provide loans to small and medium enterprises of between $5,000 to $500,000.

Australian loan-provider Bizcap has officially launched Singapore operations.

Singapore is Bizcap’s fourth active market after Australia, New Zealand, and the United Kingdom. It plans to expand into additional Asian markets over the next three years as part of its regional growth strategy, according to a press release.

Bizcap said that it will bring “a new level of speed and flexibility to local SME finance” with its loan sizes ranging from $5,000 to $500,000.

Bizcap said that it will increase the funding amount over time.

Bizcap leverages automated bank statement aggregation and open banking integrations to assess real-world business performance.

Since entering the market, Bizcap has already funded over $6m in deals and built partnerships with local brokers and advisers.

As of press time, Bizcap said that it has over 100 partners already registered.

Bizcap has also mapped out a product roadmap for Singapore that includes a caveat-secured loan and a revolving line of credit, both set to launch within the next 6 to 12 months.

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