Two homegrown start-ups in Singapore, Carousell and YouBiz, have on Wednesday announced a strategic partnership to help local small and medium-sized enterprises (SMEs) and start-ups accelerate their business growth with digitalization tools and resources.

In a joint statement, the duo said the partnership between Carousell, the multi-category classified and recommerce marketplace, and YouBiz, the corporate solution by Southeast Asia’s leading financial technology company YouTrip, is a unique collaboration that aims to help SMEs maximize their resources and save on business expenses as they digitalize their operations.

Having experienced the challenges of digitalization first-hand, both start-ups understand the high costs and limited access to digitalization resources that local businesses face which hinder the companies’ growth and profitability.

It is noted that YouBiz has been helping over 3,000 businesses save approximately SGD 20,000 ($14,601) and 480 manhours annually by eliminating unnecessary administrative fees, coupled with its promise of 0% foreign exchange fee, unlimited cashback and seamlessly integrated digital solutions.

These substantial savings allow SMEs to reinvest in their growth, and enhance their offerings and reach which ultimately creates a more vibrant and resilient business landscape.

To help businesses and start-ups to better maximize their resources by saving on digitalization costs as they scale locally and regionally, the pair have partnered to offer exclusive cashback rebates which allow the SMEs to invest the savings in other business functions.

As part of the partnership, Carousell merchants get to enjoy a 10 percent upsized cashback for their CarouBiz package and Carousell coins, while YouBiz users are offered an exclusive 20 percent rebate for their purchase of Carousell coins.

“We are thrilled to partner with YouBiz, combining our reach of 1 in 3 Singaporeans as active monthly users and YouBiz’s expertise in financial solutions, to help small local businesses find success in today’s fast-paced business landscape,” said Johnny Lim, Regional Head of Sales and Business Director of Carousell.

According to him, digitalization is pivotal, and this collaboration exemplifies the firms’ commitment to
provide simple-to-use and convenient ways for anyone to digitalize their business.

Kelvin Lam, Chief Operating Officer of YouBiz by YouTrip, said that the partnership with Carousell is a strategic one that aims to equip SMEs with cost-saving tools and resources that help them accelerate their cross-border growth in this digital economy age.

“We are excited to be working with Carousell to support the growth of SMEs in the region,

“With our combined expertise and offerings, we can help more businesses tap into new markets and opportunities,” he added.

According to the statement, YouBiz and Carousell are committed to providing local businesses with the support they need to succeed in the digital economy.

With YouBiz’s expense management solution, the financial operations are equipped with the tools to automate the company’s bookkeeping and reconciliation processes.

Caroubiz also offers exclusive seller benefits and store management tools to guide companies through their journey.

Beyond helping SMEs save costs, Carousell and YouBiz are also committed to empowering business owners and aspiring entrepreneurs with the knowledge they need to stay ahead in the digital economy.

Carousell is a multi-category classifieds and recommerce marketplace that makes selling easy and simple.

The platform is available in Singapore, Hong Kong, Indonesia, Malaysia, the Philippines and Taiwan.

The Carousell marketplace has a diverse range of products across a variety of categories, including cars, lifestyle, gadgets and fashion accessories.

Launched in 2022, YouBiz is a multi-currency corporate card and spend management platform for SMEs.

YouBiz is built by YouTrip, a Southeast Asian financial technology company dedicated to creating the next-generation of digital financial services for consumers and businesses.

It provides SMEs and startups with an easy-to-use, convenient and affordable spend management platform to power their cross-border payment needs and global expansion plans.

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