Dolla Financial partners with Innovative Systems in a deal that will allow customers to make purchases on credit. This will open up another pool of customers for Dolla Financial.
Innovative Systems was acquired by the Growth Tech Group in May 2022. This was a purchase that would allow Growth Tech to take advantage of the existing customer base and expand Innovative Systems. Reports had come out that Growth Tech will be spending approximately $100 million to expand the business.
Dolla’s partnership with Innovative Systems will allow the microfinance company to offer financing packages to retail and business customers.
Its goal is to grow revenues by 50 percent within the first year of acquisition, largely from B2B or business-to-business sales.
The understanding between Dolla Monetary and Innovative Systems is effective on October 1.
Under the particulars of the credit, clients can access somewhere in the range of $15,000 and $250,000 to work with their tech buys. For SMEs looking to obtain merchandise from Inventive Frameworks, the organization will support buys of up to $2 million.
Individual credits are repayable in something like a half year while reimbursement of the SME credits is spread north of a year.
“We hope this will facilitate our existing customers and entice new customers to join the Innovative family and enjoy our suite of products. This will be offered at both our Sovereign and Constant Spring locations,” Walker said.
Dolla Financial says it expects to enter into another financing partnership with a private pediatric clinic by year-end.
