PrimeRevenue Teams With Propell for Supply-Chain Finance in Africa
By: PrimeRevenue Inc. April 23, 2014
PrimeRevenue Inc. has partnered with Propell, a Southern African provider of financial services, to offer supply-chain finance in Africa.
PrimeRevenue’s supplier-finance programs span more than 14,000 companies and 45 funding partners in some 40 countries. Under the new arrangement, Propell will use PrimeRevenue’s technology to implement and manage supply-chain finance programs for African companies. Buyers can strengthen their supplier relationships by providing access to cheaper financing opportunities, the companies said. Suppliers, for their part, don’t have to rely on expensive factoring services or bank loans to finance their cash flow. Prime Revenue offers the OpenSCi platform, designed to help companies optimize working capital and reduce costs and risks throughout the financial supply chain.