SC Ventures, the fintech investment and incubation arm of Standard Chartered, has launched Labamu, a new invoicing and billing platform for SMEs in the Asia-Pacific region.
Starting in Indonesia, Labamu will provide SMEs with digital billing solutions, inventory management, customer relationship management, and reporting services.
In addition, the platform will offer financial services such as embedded banking accounts, with plans to incorporate procurement and working capital financing in the future.
Emmanuel Van De Geer, CEO of Labamu, stated, "The platform stands out because we seamlessly integrate financial services into our offering. Merchants using Labamu can receive invoice and bill payments directly deposited to their bank accounts.”
Labamu is also being promoted through workshops that provide business management advice and export guidance, having already trained over 7,500 business owners.
Alex Manson, CEO of SC Ventures, noted, “SMEs are still suffering from a lack of access. During incubation, we could already see Labamu’s potential — the platform earned the trust of over 80,000 small business owners. We congratulate Labamu on their launch as they begin their journey to empower SMEs.”