Founded in 2017 and headquartered in Istanbul, Figopara provides supply chain financing and SME lending services to help customers secure funds in the short term using e-invoices or invoiced cheques. Its investors include IFC (World Bank), Endeavor Catalyst, Lima Ventures, and ScaleX Ventures, among others.
As the company gears up for a “significant” international expansion push, Figopara hopes to utilise its newly forged partnership to automate its risk decisioning,enhance its risk models with machine learning and predictive analytics capabilities, and stay compliant with regulations in new markets.
Cuneyt Aydemir, risk management director at Figopara, says that the company recognises that an “evolving financial risk landscape demands a more refined, real-time, and predictive risk assessment model”.
“Partnering with Provenir allows us to integrate high-level analytics and regulatory know-how into our existing platforms,” Aydemir adds.
Provenir adds that its solution will also help Figopara manage headcount, reduce bad debt, and increase revenue by providing customers with value-added services.
Source: fintechfutures
Image: fintecbuzz