According to a McKinsey Global Institute report, 39 million SMEs in Southeast Asia lacked access to financial support, despite contributing to 40 percent of the region’s GDP. The situation is more challenging for SMEs that require trade financing solutions, because they’re likely to be deemed by banks as low-profit generators. A recent International Chamber of Commerce study shows closing the trade finance gap by attracting more non-bank capital will be the most pressing trade-related issue in the next three to five years. To address these concerns, Singapore-based fintech startup, Finaxar, recently announced a partnership with Global eTrade Services - a global trade platform company. Finaxar’s Co-Founder and Executive Director, Dr Tan Sian Wee, shares more.

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<li>According to a McKinsey Global Institute report, 39 million SMEs in Southeast Asia lacked access to financial support, despite contributing to 40 percent of the region&rsquo;s GDP. The situation is more challenging for SMEs that require trade financing solutions, because they&rsquo;re likely to be deemed by banks as low-profit generators.&nbsp;A recent International Chamber of Commerce study shows closing the trade finance gap by attracting more non-bank capital will be the most pressing trade-related issue in the next three to five years. To address these concerns, Singapore-based fintech startup, Finaxar, recently announced a partnership with Global eTrade Services - a global trade platform company. Finaxar&rsquo;s Co-Founder and Executive Director, Dr Tan Sian Wee, shares more.</li>
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