Australian business lender Bizcap officially launched its Singapore operations, aiming to provide funding solutions for local SMEs.
The company focuses on offering business loans with flexible terms and fast processing times.
Even before the formal launch, Bizcap had already funded over SGD 6 million in deals within Singapore, indicating early activity in the market.
The firm has also established partnerships with more than 100 local brokers and advisers to build its distribution network.
Bizcap utilises data analysis, including automated bank statement aggregation and open banking integrations, to assess business performance beyond traditional credit scores, which it states allows for quicker lending decisions.
During pre-launch testing, the company reported an average assessment time of under four hours and expects same-day funding to become available for eligible SMEs as its systems go live.
Current loan sizes offered range from SGD 5,000 to SGD 500,000, with plans to increase this amount over time.
Singapore marks Bizcap’s fourth market, following its operations in Australia, New Zealand, and the United Kingdom.
The company plans to introduce a caveat-secured loan and a revolving line of credit in Singapore within the next 6 to 12 months.
Founded in 2019, Bizcap reports having funded over 30,000 business loans globally, totalling more than US$1 billion.
Joseph Lim, Asia Managing Partner for Bizcap Singapore, said,
“Our approach resonates here: simple applications, fast decisions, and meaningful support for brokers and their clients.
During our pre-launch testing, our average assessment time was under four hours. With our new systems coming online, we expect same-day funding to become a reality for eligible Singapore SMEs.”
Zalman Blachman, Global Co-Founder of Bizcap, added,
“Singapore is perfectly positioned as our regional hub for Southeast Asia. The SME segment is underserved, and there’s strong demand for faster, more accessible funding, similar to what we’ve seen in Australia, New Zealand, and the UK.
The early response from brokers and businesses affirms that SMEs here are actively seeking agile finance partners who understand real-world needs.”
