Australian fintech Bizcap expands to Singapore

Australian fintech firm Bizcap is set to expand its operations into Singapore in early 2025, aiming to meet the demand for rapid and flexible financing solutions for small and medium-sized enterprises (SMEs). Known for providing non-bank lending across Australia, New Zealand and the U.K., Bizcap’s expansion marks a strategic step to support Singapore’s growing SME sector.

Singapore’s 300,000 SMEs often need help with trying to secure traditional financing, as many need a lengthy financial history or sufficient collateral. A recent report from the Singapore Department of Statistics highlighted that only 27% of SMEs can access bank loans, while around 40% rely on personal savings or support from family and friends. Bizcap aims to bridge this gap, offering a streamlined and accessible funding option that is expected to benefit businesses in sectors such as retail, manufacturing, hospitality and professional services.

Bizcap’s financing packages, ranging from S$5,000 to S$500,000, are designed to provide SMEs with fast and convenient access to capital. The firm’s approval process can take as little as three hours, with funds disbursed within 24 hours, allowing businesses to capitalize on emerging opportunities quickly. Bizcap model also forgoes traditional credit checks and minimizes paperwork requirements, making it an attractive option for companies that may not qualify under stricter lending criteria.

Bizcap’s approach also offers benefits to referral partners and brokers, who can receive lifetime commissions on successful loan referrals, building a mutually beneficial network within the SME ecosystem. Since its founding in 2019, Bizcap has provided over $1 billion in financing to more than 25,000 SMEs, and it plans to replicate this success in Singapore by creating new financing pathways tailored to local businesses’ needs.

With Singapore’s GDP growth forecasted at 2.6% for 2024, the demand for accessible funding solutions among SMEs is expected to rise, driven by the need for expansion, hiring and investment in new technology.