Daily Markup #348: Finaxar launches first-in-Singapore fintech feature for SMEs; Cargobase upgrades to become affordable full-service logistics platform; Escavox to extend food expiry dates & reduce food waste

Credit: Blake Wisz on Unsplash

Time to Flex

  • 500-backed fintech startup Finaxar has launched new features under its SME-centric (small to medium enterprises) solution, Flex by Finaxar. The startup is the first fintech platform in Singapore to offer ‘Advanced Spend Controls’, aimed at helping SMEs regulate business expenditures.
  • SMEs can now issue Flex Visa Debit cards to employees, both physical and virtual. These cards have direct access to an SME’s Flex account, and businesses can set up spending limits and permissible categories to reduce the risk of misuse.
  • Finaxar has also integrated its solutions with accounting software Xero, which enables receipt capture and real-time payment management. To cater to more SMEs, the startup will be integrating with more accounting software across the next six months.
  • “Providing SMEs with a solution that is simple to use, flexible, and with real-time capabilities is front and center of our innovation,” said Dr. Tan Sian Wee, Group Chief Executive Officer of Finaxar Holdings Pte Ltd. “This will empower SMEs to stay responsive to business demands and reduce manual administrative tasks.”
  • Read the full article on Yahoo! Finance here.

Credit: Marcin Jozwiak on Unsplash

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  • 500-backed logistics tech startup Cargobase has become a full-fledged Transportation Management System (TMS) after advancing its features and modules. A TMS is a logistics platform that uses technology to help businesses plan, execute, and optimize the physical movement of goods.
  • “Often it is very expensive as platforms charge exorbitant implementation fees; at times, platforms offer unnecessary features,” said CEO and founder Wiebe Helder. “Our TMS is built to be more affordable, accessible, and accurate to business needs than most.”
  • Cargobase TMS improves shipping efficiency, reduces cost, provides real-time visibility, and ensures transparency into freight usage and costs.
  • The platform also offers live-chat, audit trails, integration, compliance, business intelligence, and analytics features. Addition features currently in beta mode are ‘Freight Tender ‘and ‘CO2 reporting’.
  • Read the full article on AsiaOne here.

Credit: 9News

No more waste

  • Australia will soon be reducing billions of dollars in food waste. 500-backed food supply chain startup Escavox will be adding its Blue Box tracker to shipments across the country, following food from farm to shelf.
  • The tracker can be placed in any box of produce, transmitting data like temperature, time, and location as it moves along the supply chain.
  • “Having that information at your fingertips in real-time and being able to respond to it… has been the gap,” said Luke Wood, CEO of the startup.
  • Traditionally, expiration dates have to be set conservatively. According to 9News, this means one in five grocery bags ends up in the bin. Data from the tracking device could extend expiry dates.
  • Read the full story here.

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