Incomlend: How Fintech is Leading the Economic Recoveries Among SMEs Globally

Incomlend: How Fintech is Leading the Economic Recoveries Among SMEs Globally

Morgan Terigi is Co-Founder and Director of Incomlend. A serial entrepreneur, Morgan boasts an extensive background in retail and trade. He also specialises in mechanical engineering. Here he shares his thoughts about how fintech is leading the economic recoveries among global SMEs In an increasingly cashless society, accentuated by the migration to online shopping in the past decade, fintech has grown to be a multi-billion-dollar industry. According to the Pulse of Fintech H2’20, a bi-annual report on global fintech investment trends published by KPMG, overall global fintech funding across M&A, PE, and VC was US$105 billion across 2,861 deals in 2020. Following a solid year and the accelerating demand for contactless and digital payment services, the fintech market is expected to grow. Individual organisations and banking institutions are developing new ways to allow consumers and businesses to trade online effortlessly. As companies continue to struggle with the aftermath of the pandemic, fintech and alternative lending solutions offer a means to survival. It’s also an opportunity for them to grow and develop during a grave, uncertain period. As economies begin to build, fintech seems a smart option. Fintech’s potential for SMEs Fintech companies offering alternative financing solutions to small and medium