Andrew Maren started a lot of businesses and used to work as a banker. In 2017, he started the Fintech company ProfitShare Partners (PSP), which helps small businesses get the money they need. With the way PSP does things, you don’t even need money, security, or experience.
Their goal is to help customers get ahead financially so they can go to banks or other more traditional lenders. They’re proud to have a 100% success rate and a simple, paperless way to get funding online that doesn’t require any paperwork. Several of their customers have told them that their annual sales have gone up by more than a thousand percent. Their main goal is to work with clients in the supply chains of large companies or government agencies.
ProfitShare Partners can help any business that is having trouble. Start-ups and other businesses are what drive economic growth. What the government wants for the financial sector and what traditional financial firms offer are very different.
Due to poor cash flow, companies usually face big risks when it comes to getting money for quick transactions to meet Purchase Orders and Contracts.
Therefore, ProfitShare Partners are trying to make up the difference by offering a way for small and medium-sized businesses to get the money they need to work together on big projects. With their knowledge of the industry and the resources we have, we are sure that we can offer these options to our customers because of their history.
How it Works
Purchase Order Finance
Purchase order financing lets you pay your suppliers ahead of time, so you can finish your order without having to wait for payment from your client.
Purchase Order financing is quick and easy to get for any small or medium-sized business or even an individual with a valid Purchase Order from a reputable institution.
When you use contract financing, you can pay your suppliers before you get paid by your client.
Contract financing can be quick and flexible for any small or medium-sized business (SME) that has a legally binding contract from a reputable institution.
Buying invoices is a great way to help you get paid faster.
Cash flow can be made more stable through invoice purchases, in which they pay for your already-approved invoice. It’s adaptable capital for any company purpose.
With financing, you can pay your suppliers ahead of time so you can finish an order without waiting to be paid by the client.
Import Finance can be used by any small or medium-sized business with a valid purchase order because it is quick and flexible.
With PSP, you can pay for all of your import costs, like local tariffs and shipping, upfront, and then pay it back when you get paid. You won’t have to worry about making a payment every month, so you’ll have more money to spend on other things.
Short Term Asset Finance
Short Term Asset Finance ensures that you have enough free cash flow if your contract allows you to pay for an asset over 12 months.
This could be a truck or a group of smaller tools.
Production and Manufacturing Finance
You might get the money you need to pay your raw material suppliers right away, or you might have to wait until you’ve agreed on a schedule with them. This will help you make sure you have all the materials you need to make products and ship them to customers on time.
You often get better prices and faster stock deliveries because they can pay your suppliers ahead of time.
Andrew Maren is the current CEO and Founder of ProfitShare Partners.
He previously worked at ISA Holdings Limited as a Non-Executive Director.
Andrew Maren attended Parktown Boys High.
Investors & Funding Rounds
SA SME Fund, Vumela Fund
ProfitShare Partners has been given R100 million by the SA SME Fund, which invests in intermediaries that provide finance and equity instruments to SMEs, to help speed up even more growth in the SME sector.
Small and medium-sized businesses (SMEs) have always had trouble getting money and working capital. The epidemic has made things even worse for the country’s economy. So that SMEs can keep growing and succeeding, PSP will offer an alternative way to get money.
ProfitShare Partners has also secured a ZAR25 million (US$1.7 million) capital line from the Vumela Fund to further address the lack of capital available to SMEs.
The funding from the Vumela Fund will help ProfitShare Partners in addressing funding gaps for SMEs, with the startup committed to offering immediate capital solutions to SMEs requiring cash flow to deliver on their contracts and purchase orders in the supply chain of large corporations.
Klippa: It provides monetary services.
Tammac Holdings: Financial services are provided by Tammac Holdings.
Global Mobility Service: This is a financial service company.