Pollen Finance has lent more than R1bn to SMEs since it was established in 2015.
Chief executive Louis du Plessis believes Pollen has barely scratched the surface when it comes to the funding requirements of South Africa’s vitally important SME sector. “What does R1bn mean in our local economy? It means more SMEs are driving the economy,” he says. For starters, R1bn invested into the economy could create about 100000 much-needed new jobs.
The Stellenbosch-based fintech company was first out of the gate in South Africa when it took its unsecured online business-lending model to market in 2015, delivering R100 million in loans in only eight months. Now it is the first to hit the R1bn mark, which it did a month ago.
“This shows South African business owners are out there investing in what they do. We have already loaned R1bn, but still think we have tapped into only a small segment of the SME market that is in need of funding,” says Du Plessis.