A new and innovative collaboration between Australian Fintech lender GetCapital and Alibaba.com, the leading platform for global wholesale trade, owned by Alibaba Group will provide Australian importers and exporters with finance options on the Alibaba.com platform for the first time.
GetCapital is a leading Fintech lender to small and medium businesses in Australia.
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.
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.
