Partnership spearheads CIMB’s “SME Partners” proposition, part of holistic SME proposition for financing and business solutions

KUALA LUMPUR, Feb 12 (Bernama) -- CIMB Bank and CIMB Islamic Bank (“CIMB”) and Shopmatic, a leading e-commerce provider in Southeast Asia since 2014, have entered into a partnership to help Malaysian SMEs build and scale-up their businesses in the e-commerce space. This is part of CIMB’s new three-pronged SME business proposition to provide a complete suite of financing and business solutions to its customers, comprising SME Financing (e.g., no-collateral and business property financing); SME Transact (cash management services); and SME Partners (providing services like logistics, workspace, digital connectivity, e-commerce, accounting and HR solutions). 

With this partnership, SMEs in Malaysia stand to benefit from Shopmatic’s services, including setting up an e-commerce site, complete with a secure payment gateway, and guidance on the necessary technical know-how in starting and running an online business. Other advantages of Shopmatic include fully integrated services for shipping, social and digital marketing, point of sale and last-mile fulfilment.

Victor Lee Meng Teck, CEO, Group Commercial Banking, CIMB Group said, “This partnership with Shopmatic aims to help SMEs take advantage of global online business opportunities. This further cements CIMB’s SME Partners proposition as an ideal and easy-to-use support ecosystem for SMEs just starting out, or those looking to scale-up. In addition to financing, SMEs can also avail themselves of CIMB’s expertise, regional footprint and business networks for their development, in line with the Government’s National Entrepreneurship Policy to have 50% of Malaysia’s GDP contributed by SMEs by 2030.”

Anurag Avula, Co-Founder & CEO of Shopmatic, said, “It is a pivotal moment for Shopmatic to join forces with a leading bank in Malaysia to help enable businesses to go online. We are glad to announce our partnership with CIMB and look forward to working together towards providing a level playing field for SMEs. The partnership also marks a new dawn for Shopmatic, now foraying into Malaysia and strengthening our presence within the digital emerging markets in Southeast Asia.”

Shopmatic has been powering e-commerce across Southeast Asia since 2014 and has rapidly expanded across the region. The company is currently operating in 13 markets and looking to enter two new markets in 2020.

In addition to Shopmatic, other business solutions are also available to aid SMEs in starting and running their businesses. All these form part of the CIMB SME Partners proposition, with solutions comprising of:
• Payment, collection and courier services – Billplz (payment gateway services); Genius POS (software); EasyParcel (courier services)
• Connectivity – Digi (mobile and WiFi plans)
• Digital and e-commerce solutions – Exabytes Digital (digital marketing and branding); Exabytes (website services); Shopmatic (e-commerce), EasyStore (Website Services); Berjaya Sompo (general insurance).

Currently, various attractive promotions and offers* are available to customers signing up with Shopmatic or any of the solutions in the CIMB SME Partners proposition and reward opportunities of up to 2.2% when customers open Business Current Account-i with CIMB. Businesses wishing to find out more can visit https://www.cimbbank.com.my/en/business/products/sme-banking/sme-partners.html

*Terms and conditions apply. 

About CIMB Group

CIMB Group is one of ASEAN’s leading universal banking groups and is Malaysia’s second largest financial services provider, by assets. It offers consumer banking, commercial banking, investment banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, Korea, the US and UK.

CIMB Group has one of the most extensive retail branch networks in ASEAN with 702 branches as at 31 December 2019. The Group’s investment banking arm is one of the largest Asia Pacific-based investment banks, while it offers comprehensive research coverage around of 950 stocks in the region via its CGS-CIMB joint venture.

CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.

CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisation of approximately RM51.1 billion as at 31 December 2019. The Group has around 35,000 employees located in 15 countries.

About Shopmatic

Founded in December 2014, Shopmatic has been driving game-changing strategies in the ecommerce space and has engineered itself to stay focused on helping its customers succeed.

With its recent acquisitions of Octopus, and CombineSell Shopmatic is driving an omnichannel play for individual entrepreneurs and businesses in emerging markets, by enabling the entire ecommerce-&-retail-management ecosystems for them to succeed.

From a domain name to easy integrations with domestic and international payment gateways and shipping partners, to getting discovered via a unique, curated platform- Shopmatic World to POS, Inventory Management and CRM solutions, Shopmatic helps business owners manage the full spectrum of what is required to grow their business.

Shopmatic is headquartered in Singapore with a presence in India, Hong Kong, China, Malaysia, Philippines and UAE. The company is quickly expanding to the rest of South-East Asia, this year.

Shopmatic has raised 20 M SGD from its incorporation till date with August One, SEEDS Capital and a consortium of investors.

For more information, please visit www.goshopmatic.com

SOURCE: CIMB Group

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Suria Zainal
Head
Group Corporate Communications
CIMB Group Holdings Berhad
Tel: +603 - 2261 0638
Email: suriawati.zainal@cimb.com

Name: Shenaz Bapooji
CMO
Shopmatic Group
Tel : +91 98453 86057
Email : shenaz.bapooji@goshopmatic.com, media@goshopmatic.com

--BERNAMA