W&F Q3 2021

www.wealthandfinance-news.com Wealth & Finance International - Q3 2021 9 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. In a 2020 study conducted by PWC, it was revealed that 22% of the South African businesses that participated ranked access to funding as their largest challenge. 43% of those businesses did not raise capital in the previous 12 months but planned to do so in the next, while 19% of respondents who had not yet raised any funding identified a lack of funding in the marketplace or a lack of fundraising experience as the issue. Fortunately, a much-needed solution can be found in Capital Connect, an alternative financing option for retail merchants in South Africa that takes the form of an unsecured, short-term B2B lending business. Retail merchants are able to access business finance of up to R2,5 million without red- tape or audit financials, and can see the funding enter their bank accounts within 24 hours. Capital Connect was launched in 2018 as a branch of South Africa’s leading provider of automated cash management and payment solutions, Cash Connect. Led by the Group CEO of Connect, Steven Heilbron - who oversees both Cash and Capital Connect as well as Card and Kazang Connect - Cash Connect is today of the largest suppliers of cash to the country’s banking system, managing in excess of R100 billion each year on behalf of the retail industry. A proud and knowledgeable service provider to leading blue- chip retail companies including the Spar Retail Group, Shell Petroleum and more, Cash Connect is testament to the fact that despite growing momentum to digitised systems around the world, in South Africa, cash remains king. As such, Cash Connect seeks to provide its retail clients with hassle-free access to the cash and tools they require to grow and develop as a business. Its smart, robust cash vault sits at the very core of the fintech-enabled business solutions as a key component of any cash-driven retail business. Respected for its proven technology, the cash vault has found a home in stores throughout South Africa, providing retailers across the country with improved business efficiency in a safe and secure trading environment. Capital Connect works on a similar principle. Retail merchants can apply for an unsecured business loan within minutes through their profile on the Capital Connect app by selecting the desired capital amount and repayment period and submitting their application. Clients can then access short term capital of up to 50% of their average monthly cash and card turnover within 24 hours to make the most of their next business opportunity, whether they be looking to stock up shelves, invest in equipment, renovate or enhance their current offering. With the support of Capital Connect by their side, retailers are able to benefit from rapid funding that can be paid back through flexible repayments designed to suit them, whether it be in a lump sum or small daily instalments. When combined with the hassle-free process that avoids the red tape, audited financials, queuing in banks and long waits for loan approvals, it is unsurprising that Capital Connect has become the premier solution used time and time again by retailers across South Africa – and not just Cash Connect customers. Although the growth capital solution was initially granted exclusively to Cash Connect clients, the success of the Capital Connect model soon meant Jun21636 that it was able to tap into the insights from analytics and data modelling and expand this business finance offering to the broader retail audience, with a key focus on the small and medium sized (SME) sector in South Africa. While the Covid-19 pandemic has seen mindsets in South Africa changed and paradigms shifted on how businesses operate, for many, it has presented an opportunity to innovate, out-think and outsmart. 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 remains a crucial part of daily business trade, particularly for the fast-paced retail sector. Capital Connect lends to the retail entrepreneurs in South Africa the resources to do just that: the tools to grow and thrive. Contact: Sumay Dippenaar Web Address: www.cash.connected.co.za