Validus, Siemens team up to facilitate credit access for Singapore distributors

SMALL and medium enterprises (SME) financing platform Validus and technology company Siemens launched a channel partner financing programme on Tuesday for Siemens Digital Industries' ecosystem of distributors in Singapore.

This aims to provide Siemens' channel partners easy access to financing for their purchases, thereby allowing distributors to address short-term cash flow needs and capitalise on growth opportunities.

Under this programme, distributors will be able to access up to S$500,000 at low rates on a flexible pay-per-use arrangement without needing to pledge any assets.

Said Anand Periwal, chief commercial officer of Validus: "By leveraging our proven fintech lending platform and making use of digital data, we are able to optimise cash flow for both the manufacturer and the distributor. We look forward to building on our partnership with Siemens Digital Industries to help accelerate financing access in this segment."

Beyond the newly launched financing programme with Siemens, Validus aims to explore similar opportunities to boost SME lending in other sectors including healthcare, medical equipment and supplies and consumer goods.