Digital Invoice Factoring Processes N300m Payment in 30 Days

Nume Ekeghe

As part of its efforts in helping MSMEs access working capital, Nigeria’s first invoice factoring platform, Getcapsa, processed over N300 million payments through its platform in the last month, the company has said.

Incorporated in November 2019, the company’s platform, GetCapsa enables MSMEs to trade their unpaid invoices to corporate and individual investors for cash within 48 hours.

Co-founder/Chief Commercial Officer of Capsa, Mr Segun Dada in a statement made avaialble to THISDAY said: “The ability to secure quick and affordable working capital remains a huge struggle for most businesses, Getcapsa is fixing this with our innovative digital platform with just a few clicks, businesses can unlock much-needed financing and convert their waiting time to cash. Capsa achieved this transaction alongside its collaboration with the top multinational brand, Olam group, and financial institution groups, Stanbic IBTC Bank and Vetiva Capital.”

Speaking, Co-founder/CEO of Capsa Mr. Mustapha Suberu, said: “We are the next big thing coming out of the alternative financing space, and we are bringing more exciting and innovative ways for small businesses to fund their operations. We are allowing small businesses to access funds without taking loans from banks or other loan sharks out there and for the first time, businesses will have the power to determine what their financing cost would be with just a few clicks, and this is thanks to Getcapsa.”