Hollydesk — a Cairo-based fintech company — is introducing a buy now, pay later service for SMBs that uses Hollydesk’s solutions.
“It is time to proudly say that we have launched a buy now, pay later and B2B supplier invoices in Egypt to support businesses through our platform,” said Mahmoud Moussa — Founder and CEO of Hollydesk.
“Banks usually offer financing options such as loans to companies and institutions, but a large segment of companies cannot benefit from these solutions due to the lack of mechanisms that allow them to obtain financing solutions from banks in the traditional way. This is the challenge that Hollydesk has transformed into an investment opportunity,” he explained.
Companies using Hollydesk solutions can benefit from financing options for their invoices or goods and pay on instalments spanning 30 to 90 days.
Furthermore, Hollydesk analyses the database by using AI as an alternative to the credit worthiness reports of banks, which determines the amount of funding each company can get and the payment period.
“Our main goal is to build business-friendly financial solutions to offer them business credit to help fund their businesses, pay suppliers, and grow by offering them short-term loans.”
Hollydesk conducted transactions worth EGP 50m from January to the end of June of this year. It is expected that the transaction volume will rise to EGP 500m in 2023.
Companies use Hollydesk to process their employee expenses and supplier invoices automatically and quickly, as well as reduce the time they spend processing and analysing data.
Employees use Hollydesk daily so they can simply process their expenses via an app on their smartphone. This gives them the ability to upload a picture of receipts directly into the system.
Also, Hollydesk’s Supplier Invoice Manager allows you to collect, approve, and pay invoices in one simple process when placing an order. The manager then receives an instant notification on their Hollydesk app in order to approve the invoice.