Love Local? Invest Local: BenneFin is Here

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

Email: pradeep@newsobahrain.com

Be it food, laundry, or party flowers, it is small businesses in Bahrain that fulfil a majority of the needs of customers. Their popularity is testament to the fact that they win the hearts of customers in meeting those needs.

But what can the customers do in return to help these small businesses grow? While there was no organized solution to this in Bahrain until now, a new crowd-funding platform has been launched in the Kingdom to enable customers to provide funds to their favourite small businesses in a secure manner and get higher returns while transforming lives.

A Licensed Platform Licensed by the Central Bank of Bahrain, the platform named BenneFin allows small businesses to seek funds against gold and accepted invoices. At the same time, it allows the public to fund these businesses and get the returns as promised by the businesses, all through an online, transparent, and regulated process.

Launched with an aim to bridge the funding gap for small and medium businesses, who often face challenges in securing traditional bank loans, the newly-launched fintech platform BenneFin is making waves in Bahrain by offering ethical, peer-to-peer lending while remaining committed to transparency, responsibility, and ethical investment practices.

In order to ensure that investors have access to essential data before committing funds, BenneFin conducts detailed risk assessments for each of the businesses that seek to list with the platform for raising funds.

This transparency allows investors to have full control over where and how their money is allocated, making the platform attractive to those looking for high returns while contributing to the local economy.

For investors, BenneFin offers not just the potential for attractive financial returns but also the satisfaction of supporting local businesses that play a crucial role in Bahrain’s economy. What sets BenneFin apart is its ethical framework.

The company emphasizes responsible lending, ensuring that businesses seeking funds are capable of repaying loans and fostering long-term, sustainable growth.

In addition to cutting the red tape normally associated with borrowing and lending through its simple online process, BenneFin has made registration free of charge for both businesses and investors.

Woman-led The idea of using crowd-funding to help small businesses in the Kingdom stems from BenneFin’s founder and CEO Babita George.

Her idea transformed into a business as the BenneFin team participated in the Cohort-4 of Standard Chartered Women in Tech Bahrain Incubation Program.

The program was held under the patronage of the Central Bank of Bahrain, Supreme Council for Women and Bahrain Fintech Bay.

Explaining her vision, the founder and CEO said, “BenneFin, a home grown FinTech in the Kingdom of Bahrain, aims to open up the new funding platform supporting small and medium-sized enterprises (SMEs) and help them raise working capital conveniently.

It uses technology to streamline cost and speed of funding by connecting businesses directly with investors. Our mission is to bring financial wellness to communities and it is in line with the Kingdom’s strategy to assist the growth of SMEs.

We are happy to support SMEs, while providing ease and transparency to investors.” With its launch, BenneFin is set to become a significant player in Bahrain’s financial landscape, helping small and medium-sized businesses overcome financial obstacles while giving the public a reliable method to help out their favourite small businesses, thus nurturing a thriving ecosystem of ethical investment.