Firm unveils SME financing app
A digital supply chain finance firm, Grow, has unveiled its digital platform aimed at supporting Nigerian Small and Medium-sized Enterprises with improved access to funding and liquidity management.
According to a statement, the company introduced the Grow App during its maiden Grow Industry Connect event held in Lagos.
The event, themed ‘Scaling Businesses: Access to Capital and Procurement Opportunities,’ brought together stakeholders from sectors including retail, agriculture, construction, and distribution.
Group Chief Executive Officer of Grow, Ogochukwu Anerobi, explained that the app was designed to solve the problem of delayed payments that has crippled many Nigerian businesses, stating “Many businesses collapse due to poor cash flow. With Grow, we’ve created a solution that allows suppliers and vendors to convert unpaid invoices into working capital quickly.”
Further, the Chief Operating Officer of Grow, Denike Akanbi, added that the company is committed to building infrastructure that sustains Nigerian trade.
“We’re not just a tech company; we’re building infrastructure that supports Nigerian trade and keeps businesses moving,” she said.
A panel session at the event featured industry players such as Richard Agboola of Bridge Field Energy and Francis Ogodo of Framog International, who shared their experiences using the app.
“Without quick access to funds, you can’t move forward,” Agboola said. “Grow’s digital platform has helped our business continue operations even when payments are pending.”
Participants also discussed broader challenges facing SMEs and emphasised the role of fintech in enabling growth.
According to the statement, Grow noted that its platform is helping businesses manage cash flow, speed up invoice payments, optimise inventory cycles, and unlock new procurement opportunities.
