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.<\/p>\n
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.<\/p>\n
This deal between technology provider Bizcash, and Trudon, is the first official deal fostered by the platform.<\/p>\n
Bizcash, a fintech start-up, was launched in 2016, and is a disruptive fintech platform designed to give SMMEs quicker access to loans.<\/p>\n
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.<\/p>\n
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Trudon which provides affordable, effective advertising and marketing services to the local SMME and corporate market, closed the deal with Bizcash in October.<\/p>\n
The significant investment will go towards growing Bizcash and providing services that both companies hope will grow the SMME space in South Africa.<\/p>\n