South Africa’s premier fintech focused on SMEs, Lulalend, has transformed into Lula, an encompassing cash-flow management and business banking solution. This rebranding signifies a pivotal shift from being solely a funding provider to an integrated cash flow management platform designed to streamline financial operations for SMEs.
“Guided by our core belief that SMEs are the lifeblood of the South African economy, Lula aims to broaden our service offering to solve even more of the most common financial challenges small businesses face. To this end, we’re launching a business banking account tailor made for SMEs, complete with advanced financial management capabilities – such as an AI-driven cash flow analysis tool to enable better decision-making.
“A pivotal part of our transformation is our partnership with Access Bank,” says Trevor Gosling, Lula’s Co-founder, and CEO.
“This strategic collaboration allows us to offer a truly unique business banking experience by combining the speed and innovation of cutting-edge fintech with the credibility and compliance know-how of a fully SARB licensed bank.”
“Even prior to our evolution into Lula, our dedication to propelling the growth of South Africa’s SMEs had delivered high-impact real-world results,” Gosling remarks,
“Our flexible financial solutions provided vital assistance to many businesses during the Covid-19 pandemic, ensuring their survival and as a result protecting jobs. The fast access to funding that we offer is also used by many SMEs to overcome the operational challenges caused by loadshedding.’’
Lula’s product offerings, tailor-made for SMEs, include fast and easy access to business funding and a free business banking account with a built-in cash flow analysis tool. By solving the most common cash flow challenges faced by business owners, Lula’s objective is to empower every SME in South Africa to succeed.
“In a quest to enable SMEs to take advantage of immediate business opportunities, Lula offers access to capital within 24 hours, with no collateral required and flexible repayment terms. With Lulaflow, an AI driven cash flow management tool, businesses get real time insights on income, expenditure and cash flow forecasts, helping them make better financial decisions,” he adds.
Lula’s rebranding is not just a change in name but a recommitment to empowering SMEs.
With its unique digital solutions that simplify cash flow management, Lula allows business owners to spend more time on what is truly important – growing their businesses.