Kathmandu, October 9 :F1Soft International Pvt. Ltd. has partnered with UKaidSakchyam Access to Finance Programme (Sakchyam) to introduce“Online Reverse Factoring Platform”, the first of its kind technological innovation, to enhance access to finance for MSMEs in Nepal.
Nirmal Dahal, Team Leader of Sakchyam along with Subash Sharma, CEO of F1Soft International, signed and exchanged certificates on behalf of their respective organizations during an event held in the capital on October 8. Sudesh Khaling – CEO of Laxmi Bank and Ramesh Luitel – Director of Finance Buddha Air were also present during the occasion.
Under this partnership, F1Soft International will develop and operate an online platform titled QuikBhuktani. The solution will link small and medium suppliers of large businesses/ anchor firms, and banks through an online platform to enable reverse factoring, facilitating instant access to credit for suppliers.
Using this online system, banks can offer low-risk short term loans to suppliers, who sell their goods/services to large businesses/anchor firms on credit, and they will have convenient and non-collateralized access to financial services backed by accepted invoices.
Sakchyam is aUKaid-funded access to finance programme. It is being implemented by Louis Berger for DFID Nepal, in partnership with local and international institutions.
