Bizcap, an Australia-headquartered fintech firm, has on Monday announced its expansion plans into Singapore, along with the appointment of Joseph Lim as Asia Managing Partner.

Launching in the first quarter of 2025, Bizcap’s expansion into Singapore addresses a critical gap in the small and medium-sized enterprise (SME) financing landscape: the challenge of accessing quick and flexible capital, Bizcap said in a statement.

It is noted that many of the 300,000 SMEs in Singapore encounter challenges in securing traditional financing, often due to a short financial track record or inadequate collateral.

Cited the Singapore Department of Statistics, the statement highlighted only 27 percent of SMEs in Singapore are able to secure bank financing, while 40 percent rely on personal savings or loans from family and friends.

Bizcap provides financing solutions ranging from SGD 5,000 ($3798) to SGD 500,000 ($379,775), with approvals within
hours, no upfront credit checks, a low documentation process, and fund disbursement within 24 hours.

In response to the increased demand for alternative financing, Bizcap said this approach supports businesses in accessing timely funds to meet immediate needs in an increasingly digitalized market.

To lead this new venture, Bizcap has also appointed Joseph Lim as Asia Managing Partner.

With over 13 years of experience in financial services and a proven track record of driving growth in competitive markets, he has been pivotal in generating $50-$70 million annually and has led channel and direct distribution teams of over 120 people across Asia Pacific (APAC).

Additionally, he played a key role in notable transactions, including the sale of OneSource to Dunn & Bradstreet Australia (now ‘illion’) in 2016 and the acquisition of the Zip Business loan book in 2023.

According to the statement, Lim will be central in Bizcap’s expansion, working closely with advisers, lenders, and referral partners to establish a strong foundation for Bizcap’s growth across Asia.

He will focus on driving strategic partnerships, overseeing market entry initiatives, and ensuring alignment with local market needs to support sustainable growth in the region.

“Lim’s appointment as our Asia Managing Partner marks a key milestone in our international growth strategy,

““His deep knowledge of financial services and passion for innovation will be key as we deliver on our promise to provide fast, reliable funding to SMEs across the region. We look forward to seeing the success of the Singapore market as the first entry point to Asia for Bizcap,” said Abraham White, Co-Chief Executive Officer of Bizcap.

With an estimated gross domestic product (GDP) growth forecast of 2.6 percent in 2024, Bizcap noted SMEs are showing increased optimism as they pursue growth and expansion opportunities, driving demand for quick, flexible funding options to fuel development, hire skilled labour, and invest in equipment.

Bizcap said it will focus on supporting SME growth in sectors such as wholesale, retail, manufacturing, professional services, construction, and hospitality.

Founded in 2019, Bizcap is a non-bank commercial lender empowering SMEs in Australia, New Zealand and the United Kingdom through fast, accessible funding.

Since its founding, the firm has provided over $1 billion in funding to more than 25,000 SMEs across the three countries.

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