Digital financing platform Grow is revolutionising how small and medium enterprises (SMEs) access funding in Nigeria, offering quicker, technology-driven solutions to longstanding cash flow constraints.
The company made this push during its inaugural Grow Industry Connect event in Lagos, themed “Scaling Businesses: Access to Capital and Procurement Opportunities.” The gathering brought together stakeholders from key sectors, including retail, agriculture, construction, and distribution, to discuss innovations in procurement and financing.
At the centre of the discussion was the Grow App, a tech-enabled platform designed to unlock liquidity for vendors and suppliers by providing swift access to working capital, often within 48 hours, using unpaid invoices.
“More than 50 percent of businesses struggle or fail due to cash flow constraints,” said Ogochuckwu Anerobi, Group CEO of Finceptive Limited . “The Grow App offers a new approach to digitally unlocking liquidity trapped in invoices and empowering businesses to meet demand without traditional banking delays.”
Business owners who have used the platform, including Richard Agboola of Bridge Field Energy and Francis Ogodo of Framog International, shared how Grow has helped improve their procurement cycles and delivery timelines.
“Waiting 30 to 90 days for payment can derail project timelines,” said Agboola. “Grow has helped us sidestep that risk by providing access to funds in under 48 hours.”
Denike Akanbi, Group COO of Finceptive Limited, described the solution as more than a lending tool. “We’re building an ecosystem that ensures liquidity flows seamlessly through the supply chain, fostering resilience and long-term growth for local businesses,” she said.
