A digital supply chain finance firm, Grow, has launched a new digital platform designed to improve access to funding and liquidity for Small and Medium-sized Enterprises (SMEs) in Nigeria. The platform, unveiled during the company’s first Grow Industry Connect event in Lagos, aims to ease cash flow challenges that often hinder business growth.
Themed ‘Scaling Businesses: Access to Capital and Procurement Opportunities,’ the event brought together stakeholders from key sectors such as retail, agriculture, construction, and distribution.
Grow’s Group Chief Executive Officer explained that the app addresses the issue of delayed payments that has stifled many Nigerian SMEs. He noted that many businesses fail due to poor cash flow, adding that the Grow app enables suppliers and vendors to convert unpaid invoices into working capital, providing much-needed financial relief.
Grow’s Chief Operating Officer stated that the firm is focused on more than technology. She emphasized that the company is building infrastructure that supports trade and ensures business continuity across Nigeria.
The event also featured a panel discussion where industry professionals, including representatives from Bridge Field Energy and Framog International, shared their experiences using the app. One speaker highlighted that timely access to funds has kept their operations running even when client payments were delayed.
Beyond addressing invoice payments, Grow’s platform also helps businesses manage cash flow, optimize inventory cycles, and access new procurement opportunities. The panel further explored the broader role of fintech in driving growth and sustainability for SMEs in Nigeria.
