Ant International, a global digital payment and financial technology provider, has introduced “bettr,” a global digital lending service aimed at supporting micro, small, and medium enterprises (MSMEs) in key markets through embedded finance partnerships.
According to the International Finance Corporation (IFC), 65 million firms, or 40% of formal MSMEs in developing countries, face an annual financing gap of US$5.2 trillion.
Ant’s digital lending platform bettr, seeks to address this gap by using AI and privacy-preserving computing to enhance credit accessibility and support MSME growth.
The launch includes a collaboration with Asset World Corporation (AWC), a real estate group in Thailand and member of the TCC Group.
The first phase will include AWC’s flagship project “Phenix,” a major food wholesale hub in Pratunam, opening on 26 June 2024.
The partnership is expected to benefit sellers, buyers, and AWC suppliers conducting business on Phenix both online and offline, eventually extending its advantages to merchants across AWC’s hospitality, retail, wholesale, and commercial sectors.
Wallapa Traisorat, CEO and President of AWC said,
“AWC is very excited to partner with Ant International for the launch of bettr.
This collaboration will allow both parties to fully leverage their strengths where bettr will intuitively avail digital lending to AWC’s ecosystem of micro and small businesses via our various platforms and engagement channels.”
Yang Peng, CEO of Ant International commenting on the launch of their digital lending platform bettr said,
“I’m thrilled to introduce bettr to SMEs and industry partners across emerging markets. This is a major milestone in our journey to empower SMEs worldwide with innovative fintech solutions through open collaboration with regional partners.
bettr’s mission is to make financing simpler and more accessible for micro and small businesses as they become the new engine for regional and cross-border trade and commerce.”
