Microtraction Backs Fintech Startup Pivo to Fuel Supply Chain Finance in Africa
Bridging the Supply Chain Financing Gap
Pivo’s core mission centers around addressing the significant financing gap that SMEs face within the supply chain sector. Historically, these businesses have struggled to secure adequate funding and access services designed to support their contracts and meet market demands. Traditional financial institutions often require substantial collateral and can take up to a week to make loan decisions, further hindering SME growth. Microtraction, dedicated to fostering a sustainable and developed African economy, expressed its enthusiasm to partner with Pivo in this endeavor, recognizing the startup’s potential to streamline financial processes and empower these crucial businesses. The exact investment amount was not disclosed.
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