- AppsVillage (APV) is today launching the pilot-phase of its micro-finance funding in the USA, three weeks ahead of schedule
- The micro-financing is occurring in partnerships with Seek Capital and Fundomate
- The SooS solution platform is designed to enable small and medium business to build their own apps without needing coding skills
- Micro-financing valued between US$5,000 and $50,000 will be available during the 8-week pilot
- Shares in AppsVillage are up 1.52 per cent this morning, trading for 33.5 cents apiece
AppsVillage (APV) is today launching its pilot micro-finance funding program in the U.S. with Seek Capital and Fundomate.
The micro-financing is backed by Seek Capital and Fundomate and will offer US$5,000 and $50,000 (A$7389 and A$73 892) loans to small and medium businesses (SMB) via the app.
During the eight-week pilot, which is launching three weeks ahead of schedule, the funding will only be available to a limited number of locations.
In this period, the company will finalise its customer acquisition strategy by testing target locations and SMB verticals.
Under the agreement with Seek Capital, AppsVillage will receive a commission of 25 per cent of the fees received on each of the loans.
The second agreement with Fundomate, which accesses SME loans in under 24 hours, will provide Appsville with 50 per cent of the revenue on the funding sourced via the app.
The micro-financing funding is a significant addition to the SooS solutions provider’s platform, designed to enable small and medium business to build their own apps without needing coding skills.
Earlier this week AppsVillage announced another micro-financing agreement with Lumi in Australia.
Share is AppsVillage are up 1.52 per cent this morning, trading for 33.5 cents apiece at 12:07.