Learn how local startup Eezee, a B2B digital procurement platform, seen their business grow 10-fold

Oct 9, 2023

Imagine buying something as simple as a pen, which used to take a company two weeks to complete. Right now, with Eezee, it takes a couple of minutes.

Eezee provides an Amazon-like procurement experience for companies like Shell, Exxon Mobile, and Chevron. Right now, our clients are mainly in the oil, gas, and aerospace industries.

Cash flow was the biggest challenge when we first started. Because of that, the founders didn’t draw a salary for the first few years. Accessing capital was very difficult because we were new and didn’t have a sufficient track record.

We were first introduced to Goldbell Financial Services via some founders within the same space and soon started conversing about how they could solve our cash flow problems. I met up with the team and discovered that they tailored financial solutions for start-ups like us and that’s how our partnership started.

Eezee had plans to better service our customers by offering a credit facility of between 60-90 days for purchases made on our platform, which would have been a valuable easing of cashflow for our customers, given the Covid-19 situation. This was something we wanted to roll out very quickly and Goldbell Financial Services reacted in double quick time to issue a bridge loan to us within 48 hours. They did all this while getting down to work, spending time and effort to structure a factoring line for our business that would go on to accelerate our growth as we managed to spend more time on securing our larger corporate clients such as Shell and Chevron.

What impressed me the most is that the team was very committed and on the ground. Whenever we needed Goldbell Financial Services, they were always there for us and were quick to respond, which helped to build trust between us. One key aspect of this partnership has really been the co-creation of a product that was centred around a keen understanding of our business model and what we needed. We believe that Goldbell Financial Services’ background of as a fellow SME played a significant role in their ability to provide ideal solutions to our requirements.

Besides that, one unintended benefit from working with Goldbell Financial Services was being able to tap on their extensive network and attract potential investors who trusted them, that would in turn trust us. Their ability to link us up with valuable game-changers in the market is priceless.

There was also an emphasis around sustainable financing, where deliberate thought was put behind the solutions provided, to ensure responsible financing with an eye on long-term growth and development to help us scale our business.

Ever since then, our business has grown ten times. Currently, we operate across three countries - Singapore, Malaysia, and Indonesia. We even replicated the financial solution from Singapore to Malaysia, through Goldbell Financial Services.

Moving forward, our vision for the future is to build an open credit enablement network to help democratise credit for SMEs. Through our partnership with Goldbell Financial Services, we envision a future where the hassle of managing credit is passed on from suppliers to us. With that, they will no longer have to worry about their working capital and can focus solely on growing their business.

We are very grateful to Goldbell Financial Services for going the extra mile, even for a small company like us.

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