SC Ventures, the fintech investment and incubation arm of Standard Chartered, has launched Labamu, an invoicing and billing platform for SMEs in Apac.
Starting in Indonesia, Labamu will offer SMEs digital billing, catalogue, stock and material management, plus customer relationship management and reporting services.
Financial services support comes in the form of embedded banking accounts, with plans in the pipeline to add procurement and working capital financing to the platform.
Emmanuel Van De Geer, CEO of Labamu, says: "The platform stands out because we seamlessly integrate financial services into our platform. Merchants using Labamu can get invoice and bill payments directly deposited to their bank accounts.”
The plaform is being promoted through a series of workshops offering business management advice and export guidance, so far training over 7500 business owners.
Alex Manson, CEO, SC Ventures, comments: “SMEs are still suffering from lack of access. During incubation we could already see Labamu’s potential — the platform earned the trust of over 80,000 small business owners. We congratulate Labamu on their launch as they embark on their journey to empower SMEs.”