Givvable partners with Fifo Capital to offer an Australian first: Sustainability linked SME Finance

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AI powered supplier sustainability platform, givvable, have partnered with leading fintech Fifo Capital to create an Australian-first sustainability-linked finance option for small to medium businesses.

The new givvable and Fifo Capital partnership provides SME supply chains, with eligible sustainability or ESG credentials, access to reduced rates when obtaining cash flow finance. In a move to bring finance and ESG credentials together for the SME sector, this partnership will reward businesses with the opportunity to monetise their sustainability efforts says Wayne Morris, CEO of Fifo Capital Australia: “There’s plenty of lenders looking to see how to connect ESG with finance, but this initiative with givvable will be an Australian first and a much needed breakthrough for the SME sector.”

“We anticipate this new offer will be far reaching, as sustainable finance options have previously been largely out of reach or very limited for micro, small and medium sized businesses,” adds Morris. Under the new initiative, businesses can leverage their sustainability practices around environmental, ethical, diversity & inclusion, social, community and governance to access better rates on Fifo Capital Australia’s cash-flow finance model. Eligible third-party validated certifications, accreditations, ratings or action-based commitments will go toward sustainability credits on the givvable platform to unlock better rates on early payment of invoices.

Under this new initiative, sustainability credits achieved will go hand in hand with improved finance rates, with up to 25% discount available.

“We’re expecting this to be a real game changer for small to medium businesses in Australia before taking it global with Fifo Capital,” says givvable CEO and co-founder, Frances Atkins. “We know businesses are wanting to do more to improve their sustainability credentials. Rewarding them through reduced rate finance takes it to another level, and with cash flow being critical for business survival, it made Fifo Capital a logical partner to bring this new offer to market,” adds Atkins.

Fifo Capital’s Wayne Morris agrees the market-first initiative will not only open up more finance options to the SME sector, but incentivise continued focus on improving ESG principles and practices: “As a leading fintech, we’re not only proud to bring a first-of-its kind sustainable finance option to the Australian SME sector but also help businesses who are making a contribution,” says Wayne Morris.

The sustainability-linked finance model comes into effect this month via the givvable platform. Eligible businesses will have access to discounted rates on fast and flexible early payment of invoices, providing them with instant working capital for business expenses and investments.

More on givvable:

givvable is a global AI-powered Supplier Sustainability Intelligence platform. Its platform technology captures and expertly maps business credentials to sustainability & ESG targets, frameworks and reporting standards, simplifying complex data relationships for its users. givvable tracks over 1 million sustainability credentials, across hundreds of local & global sources and all 3 dimensions of ESG – Environmental, Social and Governance. givvable helps
businesses engage suppliers with attributes aligned to their sustainability targets, track & report progress with ease –
while also incentivising action throughout the entire value chain.

givvable is award-winning sustainability-tech and proudly supported by AusIndustry.

More on Fifo Capital Australia Pty Limited:

Launched in Australia in 2007, Fifo Capital is a leader in the commercial fintech space for innovative cash flow and working finance facilities, underwriting in excess of $2b to over 3,000 businesses – with a specialty in SME and larger business in construction, manufacturing, labour hire and importer/wholesalers.
Fifo Capital is accredited as a financier in the Australian Government’s SME Recovery Loan Scheme. Wayne Morris, CEO, was consulted by the Australian Small Business and Family Enterprise Ombudsman in their review into Supply Chain Finance (2020). Fifo was recognised as a 2019 finalist in the Fintech Business Awards for Lending innovator of the Year, in 2020 was the winner of the Best Working Capital Solution Provider – Australia by the APAC BusinessAwards. In March 2021 leading Australian finance and investment house Wingate acquired a significant equity interest in Fifo Capital.

Interviews available:
Frances Atkins | CEO, co-founder givvable
Wayne Morris | CEO, Fifo Capital Australia

Please call 1300 852 556 or email [email protected] for more information or images.


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