W&F Q3 2021

www.wealthandfinance-news.com 8 Wealth & Finance International - Q3 2021 Retail Business Funder of the Year - South Africa Capital Connect, born from the established provider of automated cash management and payment solutions of South Africa, Cash Connect, in 2018, was created to provide retail merchants with quick access to hassle-free business finance of up to R2,5 million, thereby allowing them to capitalise on fleeting and fast-moving business opportunities. We find out more following Capital Connect’s recent success at the FinTech Awards 2021. Capital Connect, part of the CONNECT Group of companies, was established in 2018 to address the gap in the market for financing solutions that give retail merchants quick access to hassle-free finance. The fintech company enables retailers to access up to R2,5 million in business finance- usually in under 24 hours - so they can capitalise on fast-moving business opportunities as and when they present themselves. A PwC survey of South African businesses conducted in 2020 found that 22% of respondents ranked access to funding as their largest challenge. Around 43% of those businesses did not raise capital in the previous 12 months but planned to do so in the following year, while 19% of respondents who had not yet raised any funding flagged a lack of funding in the market or a lack of fundraising experience as challenges. This is a gap that the CONNECT Group w as well- positioned to address, with its established track record in developing financial technology solutions for the retail sector. Having started out in the automated cash management market, the group has a deep understanding of the pain points South African retailers face each day. CONNECT created Capital Connect as an alternative financing option tailored to the needs of this market. As an unsecured, short-term B2B lending business, Capital Connect provides retail merchants with quick access to business finance without red-tape and no audited financials. At the heart of its success is innovative technology. Retail merchants can apply for business funding within minutes, simply by using the Connected App, to ‘click & borrow’. Capital Connect provides retail merchants with a flexible and hassle-free business funding solution. Merchants can choose their repayment period and the amount they wish to borrow. They can pay it back in small daily instalments rather than a single large debit order, minimising the impact on their cash flow. Those that have automated retail cash vaults from Cash Connect – another division of the CONNECT Group – can choose between having the daily instalment deducted from the cash in their retail cash vault or directly from their bank account. While the Covid-19 pandemic changed mindsets and shifted paradigms in South African retail, it has also presented an opportunity for forward-thinking retailers to innovate, out-think and outsmart. Access to opportunity capital from Capital Connect creates exciting opportunities – from bulk-buying at discounted rates and stocking up for peak trading periods to starting an e-commerce platform, adding a coffee shop to improve the in-store shopping experience, or renovating the shop to give it a modern look and feel. Jun21636 In a time when countries, industries and businesses are charting new ways and reviewing growth strategies as a means to survive, cash flow and access to funding are key. With Capital Connect as an alternative finance solution, retail merchants now have quick access to funding and improved cash flow. Capital Connect enables retailers with business tools to grow and thrive, so that they never miss an opportunity. [email protected] www.getcapital.co.za