Kuala Lumpur-based digital financier Orpheus Capital has partnered with SOLV Malaysia to offer Shariah compliant SME financing solutions via the latter’s platform.
“Through this partnership with SOLV, we aim to further empower SMEs, especially the unserved and underserved, and foster innovation and enable progress in the digital era in Malaysia,” commented Muhammad Hamudi Khalid, CEO and co-founder of Orpheus.
Through SOLV’s platform, Orpheus will provide SMEs access to cash flow financing based on their relationship with large suppliers, or ‘anchors’. This will allow businesses to manage their cash flow and fund -purchases from manufacturers and distributors through an online platform.
“It cultivates creditworthiness behavior and further builds credit profiles, enabling these SMEs to have easier access to financing based on their merit in the future,” Orpheus explained.
Established in 2020, Orpheus Capital provides Halal value chain financing to small and medium-sized businesses as well as salaried individuals, focusing on the unbanked and underbanked. It practices a sustainability agenda, avoiding financing environmentally destructive products and services.
SOLV Malaysia is part of India-based B2B e-commerce platform SOLV, incubated by SC Ventures, the ventures and fintech investments unit of Standard Chartered Bank. The Malaysian arm of SOLV plans to offer a full range of financial solutions to be rolled out in phases, starting with anchor-led dealer finance, or supply chain financing. The goal is to become a full stack financial services marketplace.
SOLV Malaysia is working on launching an e-commerce platform for businesses as well as offer business services offerings such as logistics and storage.