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- AppsVillage has signed an agreement with Seek Capital to provide funding to the company’s large network of small and midsize businesses across the U.S.
- The company will use its network to market Seek’s small business funding services
- This is a pivotal time for AppsVillage as it gears up to launch its Capital Micro-Finance product which is set for later this year
- This agreement is set to position AppsVillage as a leader in SMB growth solutions
- Company shares are up 13 per cent today, with shares trading at 13 cents
AppsVillage has signed an agreement with Seek Capital to provide funding services to AppsVillage’s 100,000 small and midsize businesses (SMBs) across the U.S.
Seek Capital provides consulting services and funding to SMBs across the U.S. It works on behalf of SMBs to assist with the application process and obtain the right funding from various third-party sources.
Matching business owners with the right financial products, Seek Capital has acquired over $300 million in loans.
Under the agreement, AppsVillage will use its large network to market and generate sales of Seek Capital’s small business funding and funding-related services.
“It is well known that a lack of capital is a growth constraint for a high percentage of SMBs and we are excited to help SMB owners provide the injection of capital they need to capitalise on new opportunities,” Seek Capital CEO Roy Ferman said.
Seek Capital’s services will also be available to APV’s SMB customer base through the apps they create using the AppsVillage platform.
This is a pivotal time for AppsVillage as its gearing up to launch its Capital Micro-Finance product which is set for later this year.
“We are focused on building a fully integrated platform designed to support small-to-medium business (SMB) growth globally and we see this expansion as an important step forward in achieving this goal,” AppsVillage Founder and CEO Max Bluvband said.
The company will be marketing loans of between A$7000 and $75,000. All financial products will be approved and provided by Seek Capital or an approved third-party provider.
Seek will pay AppsVillage a commission of 25 per cent of the fee paid to Seek Capital by each customer.
This agreement marks a significant achievement for the company as it demonstrates its ability to deliver on its growth strategy of expanding and becoming a leading SMB growth solutions provider.
AppsVillage shares are up 13 per cent today, with shares trading at 13 cents as at 12:13 pm AEDT.
