Wonder 7 Global Sdn Bhd announced its partnership with Boost, the fintech arm of Axiata, to roll out various lending facilities to more than 100 Wonder 7 Global merchants and micro-entrepreneurs.
The collaboration between the health, wellness and beauty products marketing company and the digital alternative financier provides a platform for the merchants to finance the scale up of their businesses and facilitate a smoother cash flow turnover.
Boost Credit leverages digital technologies such as artificial intelligence and machine learning to offer digital financing and insurance solutions to underserved businesses or micro, small and medium enterprises (MSMEs) in Malaysia to help contribute towards their business aspirations and be part of the digital economy.
Wonder 7 Global co-founder and chief executive officer Eric Khor said the company is fully aware of the risk and challenges faced by merchants and micro-entrepreneurs in their day-to-day business operations.
“As a social enterprise, our aim has always been to ensure the company provides the best to the people they connect. As part of that aim and promise, Wonder 7 Global provides the merchants and micro-entrepreneurs with a comprehensive SME Business Protection on top of the financing facilities,” he said.
The comprehensive SME Business Protection offers various benefits to merchants and micro-entrepreneurs. The protection covers loss or damage to the building including any fixture and/or content contained in the building including products or supplies, furniture, appliances, and equipment from specific events like fire and lightning (excluding power surge).
The protection plan also includes explosion and damage caused by the gas used for domestic purposes, aircraft and other aerial devices and/or articles dropped therefrom; bursting or overflowing of domestic water tanks, apparatus or pipes, and disasters like hurricane, cyclone, typhoon, windstorm and flood.
Boost chief executive officer Sheyantha Abeykoon said the past two years has impacted businesses especially MSMEs which required easy access to financing and protection to sustain or grow their business.
“The collaboration with Wonder 7 Global offers their MSMEs simplified digital financial and insurance offerings to support them in achieving their business goals without financial worries.
“We hope that the financing facilities and business protection plan offered will also narrow the financial inclusion gap amongst the MSMEs,” he said.
