Silverbird Announces Global Expansion to Empower Unbanked SMEs

UK-based fintech firm, Silverbird, has unveiled its ambitious expansion plans, targeting new markets including Singapore, Hong Kong, Dubai, the USA, China, and India. This strategy is aimed at addressing the financial needs of unbanked and underbanked Small and Medium Enterprises (SMEs) in these regions, which are often overlooked by traditional banking institutions.

Tailored Solutions for Unique Business Needs

Silverbird’s approach is to provide tailored financial solutions, taking into account the specific business needs and structures of SMEs in the targeted markets. This approach involves continuous market monitoring, thorough customer research, and direct interviews with SMEs.

Georgy Babilashvili, co-founder of Silverbird, stated that the company’s goal is to identify areas where their solutions can have the most significant impact. Silverbird currently serves SMEs from over 100 countries, including those dealing with issues related to cross-border payments and banking.

Leveraging Public Databases for Efficient Verification

Silverbird uses public databases like bill of lading, customs data, and supply chain intelligence to verify SMEs efficiently. This method allows them to provide SMEs access to financial services that traditional banks often neglect. Silverbird’s unique focus on export and global SMEs, especially in regions where mainstream banks overlook international businesses, is a key part of their strategy.

Facilitating International Payments

Silverbird’s dedication to supporting SMEs is showcased by its ability to facilitate payments to 195 countries in nearly 40 currencies. According to Babilashvili, the company’s ongoing dialogue with clients allows them to meet 99% of their international payment needs. Silverbird aims to provide what banks can’t and often choose not to do, with minimal burden on SMEs.

As Silverbird continues its global expansion, it remains committed to promoting financial inclusion and empowering SMEs on the international stage.