Access to funding remains a major challenge for small and medium enterprises (SMEs).
ProfitShare Partners (PSP) is tackling this head-on by leveraging data-driven innovation to transform the funding landscape.
By combining advanced analytics with a deep understanding of entrepreneurial needs, PSP is making funding more efficient, accessible, and impactful for the businesses that need it most.
Traditional funding routes often create hurdles for SMEs – from stringent credit requirements to lengthy approval processes, and red tape. PSP is changing this by using real-time data analysis and predictive modelling to assess funding viability faster, ensuring promising businesses get the capital they need without unnecessary delays.
Harnessing data for smarter funding decisions
Unlike conventional lenders that rely heavily on historical credit records, PSP incorporates alternative data points to evaluate business potential. This more dynamic, tech-driven strategy enables quicker decision-making and opens funding opportunities to a broader range of entrepreneurs, particularly those who may not have extensive financial histories but demonstrate strong growth potential.
“Our mission has always been to remove the barriers that prevent SMEs from accessing the funding they need to thrive,” says Andrew Maren, founder and CEO of ProfitShare Partners. “By harnessing the power of data and automation, we can provide a seamless funding experience that allows entrepreneurs to focus on what they do best—growing their businesses.”
Speed and accessibility
One of PSP’s differentiators is its ability to dramatically reduce the time it takes for entrepreneurs to secure funding. Where traditional banks may take weeks or even months to process applications, PSP’s advanced data analytics and automated systems can approve and disburse funds in a fraction of the time.
This agility has been crucial in empowering businesses across various sectors, from manufacturing and logistics to retail and services. By offering near-instant access to working capital, PSP helps SMEs capitalise on opportunities that might otherwise be lost due to funding constraints.
Real impact
Through its innovative approach, PSP has already made a tangible impact on South Africa’s entrepreneurial ecosystem. Hundreds of SMEs have successfully secured funding, fuelling job creation, economic growth, and business expansion.
For instance, PSP is transforming the funding process by integrating artificial intelligence (AI) to eliminate inefficiencies in traditional applications. Lengthy document reviews and manual verification processes often delay funding, but PSP’s AI-driven software is changing that.
PSP has developed AI-driven software that automates document analysis, using machine learning algorithms to verify and assess funding applications quickly and accurately. This has drastically reduced turnaround times, ensuring that SMEs can access the capital they need without unnecessary delays.
In addition to faster approvals, PSP’s AI technology is also a game-changer in fraud prevention. Financial fraud is a growing concern for SMEs, as a single fraudulent transaction can have devastating consequences for a small business. By leveraging advanced AI-powered anomaly detection, PSP’s system can identify and flag suspicious transactions in real-time, protecting entrepreneurs from potential financial risks. This proactive approach not only safeguards SMEs but also strengthens trust in PSP’s funding model.
“AI is transforming the way we support SMEs by making funding more efficient, secure, and accessible. By embracing AI-driven automation and fraud detection, we’re ensuring that businesses can focus on growth without the fear of financial bottlenecks or security threats,” says Maren.
The future of funding
As technology continues to shape the financial services industry, PSP remains committed to refining its data-driven funding model to better serve SMEs.
With ongoing advancements in AI, machine learning, and financial technology, the company is poised to make funding even more seamless and inclusive for entrepreneurs nationwide.
“Data is more than just numbers. It has become the key to unlocking opportunities for businesses that have traditionally been underserved. By continuously evolving our approach, we are ensuring that more SMEs can access the capital they need to turn their dreams into reality,” says Maren.