Australia-headquartered fintech Bizcap has appointed Joseph Lim as its Asia managing partner with responsibility for leading the firm’s expansion plans into Singapore, set to be launched in the first quarter of next year.

The company’s expansion into Singapore, it argues, addresses a critical gap in the small and medium-sized enterprise (SME) financing landscape: the challenge of accessing quick and flexible capital. Many of the 300,000 SMEs in Singapore encounter challenges in securing traditional financing, often due to a short financial track record or inadequate collateral.

Only 27% of SMEs in Singapore, according to the Singapore Department of Statistics, are able to secure bank financing, while 40% rely on personal savings or loans from family and friends.

The company, it notes, provides financing solutions ranging from S$5,000 to S$500,000 (US$3,771 to US$377,074), with approvals within hours, no upfront credit checks, a low documentation process, and fund disbursement within 24 hours. In response to the increased demand for alternative financing, this approach supports businesses in accessing timely funds to meet immediate needs in an increasingly digitalized market.

Lim, who will lead this new venture, has over 13 years of experience in financial services and a proven track record of driving growth in competitive markets. As well, he has been pivotal in generating US$50 million to US$70 million annually and has led channel and direct distribution teams of over 120 people across the Asia-Pacific region. He has also played a key role in notable transactions, including the sale of OneSource to Dunn & Bradstreet Australia in 2016 and the acquisition of the Zip Business loan book in 2023.

Notably, Lim will work closely with advisers, lenders and referral partners to establish a strong foundation for the company’s growth across Asia. He will focus on driving strategic partnerships, overseeing market entry initiatives and ensuring alignment with local market needs to support sustainable growth in the region.

“Lim’s appointment marks a key milestone in our international growth strategy,” says Abraham White, the company’s co-CEO. “His deep knowledge of financial services and passion for innovation will be key as we deliver on our promise to provide fast, reliable funding to SMEs across the region.”