SINGAPORE, March 9, 2021 /PRNewswire/ — Kaddra Pte Ltd ("Kaddra" or "Company") today announced a partnership with credit card enablement platform CardUp to give customers a unique opportunity to benefit from this alliance by reducing costs on technology setup and the ability to maximise their cash flow at a low price.
"It always feels great to partner with companies sharing a similar vision. The financial impact this past year, on SMEs especially, has been unprecedented, by both the loss of revenues and the fixed costs that businesses had to support. With this partnership, we hope that both Kaddra and CardUp will contribute to turn the situation around and protect businesses so they can maximise their growth potential," explained Quentin Chiarugi, Executive Chairman and CEO of Kaddra Pte Ltd.
"During these unprecedented times, many businesses are investing in digital capabilities such as Mobile eCommerce, which requires immediate working capital. Our partnership with Kaddra comes at the right time because CardUp helps businesses tap into their underutilised credit card limits as a fast and flexible source of working capital to fuel investments into growth. It’s great to be working with Kaddra as our companies both focus on providing accessible options for businesses to grow to their full potential," said Nicki Ramsay, founder and CEO of CardUp.
Kaddra is a Singapore-based technology company providing mobile-first eCommerce and marketing solutions by connecting businesses with their customers through a white label end-to-end platform. By harnessing smartphone technology’s power, Kaddra can improve sales processes, marketing reach and customer service at unprecedented levels. This unique subscription base model for native mobile technology is already helping SMEs in more than a dozen industries building the next generation of businesses.
CardUp is a credit card enablement platform that shifts business expenses to credit cards, even where cards are not accepted. Examples include paying rent to a landlord or paying invoices to an overseas supplier. CardUp lets businesses use their available credit limit to delay the impact of these expenses on their cash flow for up to two months, interest-free. At the same time, businesses digitise processes and enjoy additional cost savings through card rewards earned on their business expenses.
The exclusive deal includes a preferential price on Setup and Onboarding costs when businesses sign up with Kaddra and a 35% discount on the first CardUp payment. There is a small processing fee to enable card payments in places where cards are not accepted. The combination of both will provide outstanding support to help SMEs move towards digital transformation with minimal risk.
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