B2B Payments

Invoice Bazaar Collaborates With RSA Global On Inventory Financing

Invoice Bazaar Collaborates With RSA Global On Inventory Financing

To help companies obtain inventory financing for supplier payments, supply chain provider RSA Global has unveiled a partnership with small- to medium-sized business (SMB) financial firm Invoice Bazaar, according to a Tuesday (June 9), press release.

The collaboration between the two Dubai-based firms lets RSA Global provide its clients with the ability to receive financing with inventory located at its buildings used as collateral, the release states.

“The partnership with RSA Global gives us ready access to a large pool of customers that use RSAs logistics facilities in the UAE [United Arab Emirates],” said Invoice Bazaar Co-Founder and CEO Anand Nagaraj in the release. “This synergistic partnership also helps us in expanding our basket of products by adding Inventory Finance as a solution that has been a requirement in the market but unmet by the existing banking infrastructure.”

Invoice Bazaar said firms that anticipate quickly clearing out their inventory — in three months or less — would be drawn to the offering as they can receive funds to buy more inventory and not need to wait for their current inventory to be completely sold to make purchases, according to the release.

The company, which was started in 2016, assists small companies in obtaining working capital. Its offerings are geared toward digital clients, including eateries on digital ordering systems, merchants on Amazon and online shopping companies using payment gateways.

Separately, payment processing firm PayTabs unveiled a partnership with Invoice Bazaar on Monday (June 8). Through the collaboration, PayTabs is providing Invoice Bazaar’s receivables financing as an option for its current UAE customers that meet the necessary requirements.

In separate news, Ware2Go, which is owned by UPS, is bringing small business financing into its offering with the help of Fundera. Ware2Go said in November that its collaboration would let joint merchant clients find financing and logistics offerings in one location, including offerings such as inventory financing, commercial credit cards and bank loans.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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