Fintech commits to address suppliers’ cash flow crisis

CEO Capsa Technology, Mustapha Suberu, has said that in light of the difficulties Nigerian businesses are undergoing in recent times, entrepreneurs should explore vital cash flow solutions as a way to get ahead of cash flow limitations.

By empowering suppliers, procurement teams and supply chain stakeholders while surpassing N15 billion in trades before the end of October, he said they have enabled businesses thrive in 2024 despite the country’s challenging economic environment.

Suberu also revealed that Capsa Technology has experienced remarkable growth in 2024, with transaction volumes surging by over 300 per cent.

Providing insights into their success and vision for the future, he said they intend to continue providing cutting-edge solutions to business challenges. He added that in today’s tough economic environment, businesses are actively seeking fast and reliable cash flow solutions, and growing demand has been a major driver of its success this year.

Speaking on how they support users, Chief Sales and Marketing Officer, Segun Dada, said the platform enables suppliers sell their invoices and access cash in 48 hours, adding that this is a game-changer for businesses managing tight cash flow. Dada stressed that this been especially helpful for suppliers in complex supply chains, keeping their operations running smoothly.

“What we often see is that businesses who join and start transacting quickly scale up, increasing their turnover. This naturally leads to trading more invoices and for larger amounts. For example, an FMCG client grew their total transaction volume by over 400 percent this year, an incredible achievement for an industry that has been one of the hardest hit by Nigeria’s current macroeconomic challenges,” he said.

Beyond the growth in numbers, Dada said they have made impact in the business ecosystem, especially for women-led businesses as over 26 per cent of its transactions this year supported women-led businesses and said businesses have also increased their transaction volumes by over 200 per cent this year.

“It’s a key part of our mission to empower diverse stakeholders in the supply chain. We see it as fueling economic resilience, which is so essential in today’s business landscape,” he added.

Suberu said that next year, their focus will be on expanding offerings to support even more businesses across Nigeria. “We want to quadruple our impact by driving up transaction volume and providing more financing options. We’re aiming for growth that translates into sustained success for Nigerian businesses, particularly small and medium sized businesses,” he said.