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Press Release27 April 2021Siemens AGSingapore
Validus and Siemens partner to enable credit access for distributors in Singapore
The program is aimed at providing Siemens’ Channel Partners ready access to financing for their purchases in a convenient and timely manner, allowing distributors to address short-term cash flow needs and to capitalise on growth opportunities easily.
According to an annual survey by Singapore Business Federation (SBF), almost two-thirds of businesses in Singapore were negatively impacted by the Covid-19 pandemic with revenue plunging by 31 per cent on average.
“Siemens Digital Industries is committed to exploring new possibilities to further support our community of Channel Partners, particularly in these difficult economic times where many are looking for ways to sustain and grow their business. Our collaborative partnership with Validus enables credit access in a convenient manner that empowers their business,” Raimund Klein, Executive Vice President of Siemens Digital Industries, ASEAN.
Under Validus’ Channel Partner Financing program, distributors can access up to S$500,000 at low rates on a flexible pay-per-use arrangement, without the need to pledge any assets, thereby removing the traditional barriers to obtaining financing. This program can also supplement existing relationship banking arrangements.
“By leveraging our proven Fintech lending platform and making use of digital data, we are able to optimise cash flow for both the manufacturer and the distributor. We look forward to building on our partnership with Siemens Digital Industries to help accelerate financing access in this segment,” said Anand Periwal, Chief Commercial Officer of Validus.
Validus was recently named Winner of MAS Fintech Awards 2020 – Singapore Financial Institution. To date, Validus has disbursed over S$840 million in SME loans and have helped boost lending in key supply chains since its founding in 2015. In a 2019 study, SMEs supported by Validus in Singapore saw a 17% increase in revenue on average, and supported more than 10,000 jobs.
According to an annual survey by Singapore Business Federation (SBF), almost two-thirds of businesses in Singapore were negatively impacted by the Covid-19 pandemic with revenue plunging by 31 per cent on average.
“Siemens Digital Industries is committed to exploring new possibilities to further support our community of Channel Partners, particularly in these difficult economic times where many are looking for ways to sustain and grow their business. Our collaborative partnership with Validus enables credit access in a convenient manner that empowers their business,” Raimund Klein, Executive Vice President of Siemens Digital Industries, ASEAN.
Under Validus’ Channel Partner Financing program, distributors can access up to S$500,000 at low rates on a flexible pay-per-use arrangement, without the need to pledge any assets, thereby removing the traditional barriers to obtaining financing. This program can also supplement existing relationship banking arrangements.
“By leveraging our proven Fintech lending platform and making use of digital data, we are able to optimise cash flow for both the manufacturer and the distributor. We look forward to building on our partnership with Siemens Digital Industries to help accelerate financing access in this segment,” said Anand Periwal, Chief Commercial Officer of Validus.
Validus was recently named Winner of MAS Fintech Awards 2020 – Singapore Financial Institution. To date, Validus has disbursed over S$840 million in SME loans and have helped boost lending in key supply chains since its founding in 2015. In a 2019 study, SMEs supported by Validus in Singapore saw a 17% increase in revenue on average, and supported more than 10,000 jobs.
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2018, which ended on September 30, 2018, Siemens generated revenue of €83.0 billion and net income of €6.1 billion. At the end of September 2018, the company had around 379,000 employees worldwide. Further information is available on the Internet at
www.siemens.com.
About Validus
Founded in 2015 to address the unmet financing needs of SMEs, Validus is today the largest SME lending marketplace in Singapore with a strong presence across Indonesia, Vietnam and Thailand. An award-winning Fintech, Validus uses Data Analytics and AI to drive growth financing to the underserved SME sector via funds from both individual and institutional investors. In 2020, Validus gained approval to provide government-assisted SME loans as part of the Enterprise Financing Scheme in Singapore. Validus holds a Capital Markets Services Licence by the Monetary Authority of Singapore (MAS), and has also received regulatory approval in Indonesia and Thailand. For more information, please visit www.validus.sg