Unique Partnership in Australia Delivers Online Financing and Foreign Exchange Risk Management
SYDNEY, AUSTRALIA - (Marketwired, Apr 5, 2016) - Cambridge Global Payments, a leading provider of integrated cross-border payment services and risk management solutions, today announced a partnership with Spotcap, an innovative business lender which provides online credit lines and business loans to micro, small, and medium sized businesses. The partnership is a unique fintech collaboration in Australia and will significantly increase both companies' market position to competitively deliver new financing and payments solutions.
"As the business landscape continues to evolve and market volatility heightens, more companies are looking for new financing options as well as trusted solutions to mitigate FX exposures," said Tim Connors, Managing Director - APAC, Cambridge Global Payments. "By partnering with Spotcap, we are providing a new and holistic approach that solves each company's unique business needs -- from managing cash flow to executing payments. Leveraging our innovative technologies means that more companies can focus on accelerating their core business, without worrying about financing and complex transactions," said Connors.
According to the Australian Bureau Statistics, access to finance is the number one barrier to innovation for Australian businesses and the third largest barrier to general business activity. Spotcap's credit scoring technology provides fast and flexible finance to small and medium sized businesses to stimulate growth. However, subsequent hurdles such as navigating cross-border payments still exist. Cambridge's award-winning technology provides a seamless and integrated process that eliminates the intricacies of such payments.
"While access to finance is a key obstacle to growth for small and medium sized businesses we know that challenges exist even after financing is made available," said Lachlan Heussler, Managing Director, Spotcap Australia. "We are proud to partner with Cambridge to provide a full service financial offering to small and medium sized businesses," said Heussler.
The partnership positions Cambridge and Spotcap to make inroads into market sectors including higher education, travel, payroll providers and relocation service providers with geographic expansion expected across Australia, Singapore, and Hong Kong.
About Cambridge Global Payments
Cambridge Global Payments is a leading provider of integrated cross-border payment services and risk management solutions. As a trusted partner for over 20 years, Cambridge delivers innovative solutions designed to mitigate foreign exchange exposure and address unique business needs. Our award-winning capabilities and industry-leading technologies simplify the way businesses connect with the global marketplace. As one of the largest bank-independent providers globally, we are flexible and responsive, with offices across North America, Europe, and Australia. Learn more at cambridgefx.com and follow us on Twitter and LinkedIn.
Spotcap enables small business owners to grow their business by providing fast and flexible financing. The company has developed a sophisticated and dynamic decision process assessing the real-time performance of businesses to grant short term credit lines and loans. Lachlan Heussler heads the Australian operations. The global team -- currently consisting of 75 credit and online experts -- is expanding its operations geographically. Read more about Spotcap: www.spotcap.com.au.
NewsMaker is an Australian Press Release Distribution and Social Media Marketing service founded in 2004. The company today represents over 22,000 brands who seek to share their content with journalists, bloggers and the community.
P: +61 414 69 70 71