Fri, Jan 29, 2021 – 5:50 AM
SMALL and medium enterprises (SMEs) in Singapore’s real estate and construction industries will be able to obtain upfront, collateral-free financing, under a new offering named Really eZFunds.
Proptech startup Really Singapore has partnered peer-to-peer financing platform Validus to enable pre-approved working capital for SMEs that provide products and services to property owners and managers.
The startup, which offers a property management solution that is cloud-based and data-driven, said that its vendor marketplace comprises more than 3,800 suppliers in over 80 categories of services, including landscaping, building supplies, construction works, cleaning services and pest control.
“The majority of these SMEs are often unable to obtain the necessary financing to bid for projects, as they lack collateral or credit history to access traditional loans,” said Really Singapore in a press statement on Friday.
Really eZFunds will give these SME suppliers access to Validus’ pre-approved instant