SpliceWorks, a business enablement platform futured by BCX, has announced the closing of its first major deal, an agreement between fintech start-up Bizcash and Trudon, part of the Telkom Group, for an undisclosed amount.
Launched last month, SpliceWorks is an online digital technology marketplace that functions as a matchmaking service for techpreneurs and the companies that need their technology.
This deal between technology provider Bizcash, and Trudon, is the first official deal fostered by the platform.
Bizcash, a fintech start-up, was launched in 2016, and is a disruptive fintech platform designed to give SMMEs quicker access to loans.
Businesses that have been trading for a minimum of 12 months can apply for a cash loan of any amount between R1,000 to R3 million and receive approval within a matter of days, cutting down the admin costs and time it would take to get a similar loan from a traditional financial institution. The loans also feature low interest rates, and flexible repayment plans.
Trudon which provides affordable, effective advertising and marketing services to the local SMME and corporate market, closed the deal with Bizcash in October.
The significant investment will go towards growing Bizcash and providing services that both companies hope will grow the SMME space in South Africa.