Grow, a digital supply chain finance company, has launched a platform to help Nigerian small and medium-sized businesses access funding and manage their cash flow better.
The company launched the Grow App for SME financing at its first Grow Industry Connect event in Lagos.
The event called ‘Scaling Businesses: Access to Capital and Procurement Opportunities’ gathered people from retail, agriculture, construction, and distribution sectors.
Ogochukwu Anerobi, the CEO of Grow, said the app aims to fix the issue of slow payments that hurt many Nigerian businesses. He noted, ‘Many businesses fail because of cash flow problems. With Grow, we provide a way for suppliers and vendors to quickly turn unpaid invoices into cash.’
Denike Akanbi, the COO of Grow, stated that the company is dedicated to developing infrastructure that supports trade in Nigeria.
We are more than a tech company; we are creating systems that help Nigerian trade and keep businesses running,she said
A panel discussion at the event included industry experts like Richard Agboola from Bridge Field Energy and Francis Ogodo from Framog International, who talked about their experiences with the app.
Agboola stated, “You can’t progress without fast access to money. Grow’s digital platform has allowed our business to keep running even when payments are delayed.”
Participants talked about the wider issues that SMEs face and highlighted how fintech can help them grow.
Grow stated that its platform assists businesses in managing cash flow, accelerating invoice payments, improving inventory cycles, and creating new procurement opportunities.
