Mon, 24 Jun 2024
22.7 C
Durban

All-in-one cash flow management platform launches for SMEs

Home Business Management Finance & Investment All-in-one cash flow management platform launches for SMEs

A LEADING SME-focused fintech, Lulalend, has evolved into Lula, a one-stop, cash-flow management and business banking solution.

This rebranding marks a critical evolution from a funding provider to an ‘all-in-one cash flow management platform designed to simplify financial management for SMEs.

“Guided by our core belief that SMEs are the lifeblood of the South African economy, Lula aims to broaden its service offering to solve even more of the most common financial challenges small businesses face. To this end, we’re launching a business banking account tailor-made for SMEs, complete with advanced financial management capabilities – such as an AI-driven cash flow analysis tool to enable better decision-making. A pivotal part of our transformation is our partnership with Access Bank,” says Lula’s co-founder, and CEO, Trevor Gosling.

“This strategic collaboration allows us to offer a truly unique business banking experience by combining the speed and innovation of cutting-edge fintech with the credibility and compliance know-how of a fully SARB-licensed bank.”

“Even prior to our evolution into Lula, our dedication to propelling the growth of South Africa’s SMEs had delivered high-impact real-world results,” Gosling remarks,
“Our flexible financial solutions provided vital assistance to many businesses during the Covid-19 pandemic, ensuring their survival and as a result protecting jobs. The fast access to funding that we offer is also used by many SMEs to overcome the operational challenges caused by loadshedding.’’

Lula’s product offerings, tailor-made for SMEs, include fast and easy access to business funding and a free business banking account with a built-in cash flow analysis tool. By solving the most common cash flow challenges faced by business owners, Lula’s objective is to empower every SME in South Africa to succeed.

“In a quest to enable SMEs to take advantage of immediate business opportunities, Lula offers access to capital within 24 hours, with no collateral required and flexible repayment terms. With Lulaflow, an AI-driven cash flow management tool, businesses get real-time insights on income, expenditure and cash flow forecasts, helping them make better financial decisions,” he adds.

Lula’s rebranding is not just a change in name but a recommitment to empowering SMEs.

Most Popular

SPONSORED NEWS: WEG Africa pioneers local manufacture of MV softstarters

WEG Africa has become the first OEM to produce medium voltage (MV) softstarters in South Africa, reducing lead times for customers and supporting the...

Project proposals requested to sustain water and energy supply to EC ports

TRANSNET National Ports Authority (TNPA) has issued three Requests for Proposals (RFPs) for the construction of two solar-powered seawater desalination plants and a renewable...

NMB an enabling environment for new auto plant

STELLANTIS is privileged to have been invited by the Nelson Mandela Bay Chamber of Commerce to open the chamber’s first ever “Bay of Opportunity...

CESA survey shows higher private sector involvement, lower confidence

BUSINESS confidence remains a pressing concern in South Africa, with Consulting Engineers South Africa’s (CESA) Bi-Annual Economic and Capacity Survey (BECS), for the period...