Hong Kong, October 5, 2022 ─ ORIX Asia Limited (“ORIX Asia”) and YOOV Capital Limited (“YOOV CAPITAL”) today announced the signing of a strategic cooperation agreement to become strategic partners, joining hands to further develop the factoring market in Hong Kong. ORIX Asia will provide YOOV CAPITAL with stable source of funds to fully support its factoring business, to increase the confidence of SMEs to opt for non-bank financing solutions.
YOOV CAPITAL's factoring solution allows SMEs to make use of outstanding invoices as a financing tool, avoiding the need to wait for the invoice due, but accessing to cash up to 90% of the invoice value immediately. That helps SMEs to maintain sufficient cash flow to support the daily operation and business development in long-term. Unlike traditional factoring, which takes export trade businesses as the main market, YOOV CAPITAL's factoring solution is widely adopted by SMEs in business servicing industries, such as recruitment outsourcing agencies, logistics and I.T. companies…etc. Even these industries do not perform physical goods transaction, they could still access to sufficient amount of funding through YOOV’s factoring solution without any collateral.
Mr. Phil Wong, CEO of YOOV said, "As a subsidiary of YOOV, YOOV CAPITAL is a very important financial sector of the Group, allowing YOOV to better provide one-stop service for SMEs. From digital management solutions to financing, all can be done in our hands. Also, big data collected in digitalized workflows can be used to simplify and speed up the financing process. This collaboration with ORIX Asia fully demonstrates the potential of the invoice financing market. It brings tremendous support to the development of YOOV CAPITAL and enhances the trust of customers, giving us more confidence to provide SMEs with flexible and reliable financing solutions.”
Mr. Adrian Pang, Managing Director, ORIX Asia Limited said, "As a diversified financial services organization rooted in Hong Kong for more than 50 years, ORIX Asia adheres to the philosophy of the Japanese parent company ORIX Corporation, and has spared no effort in integratingfactors such as environmental, social and governance, and sustainable development into our services, and focuses on innovative fin-tech solutions to promote the development of the SME ecosystem, especially start-ups. We hope that through this win-win collaboration with YOOV CAPITAL, we can further support SMEs to improve their working capital needs, and empower SMEs to realize their entrepreneurial dreams through strategic financing solutions.”
About ORIX Asia Limited
Established in Hong Kong in 1971, ORIX Asia Limited is a wholly owned subsidiary and the first overseas venture of ORIX Corporation. ORIX Corporation (Tokyo Stock Exchange (8591) and New York Stock Exchange (IX)) is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers. With operations in 28 countries and regions worldwide, ORIX is providing leasing, corporation finance, real estate-related services, professional finance, automobile-related services, environment and energy services, retail financial services and insurance services.
ORIX Asia Limited is one of the few financial institution having the status of Restricted Licence Bank (an authorized institution regulated by the Hong Kong Monetary Authority). With 50 years of experience in serving the community, the company has built up a solid market position in the provision of a wide spectrum of pioneering one-stop financial services, together with the group of affiliated entities, to both corporate and individual customers.
Learn more: www.orix.com.hk
About YOOV CAPITAL
YOOV Capital Limited (“YOOV CAPITAL”) was established in 2020 as a subsidiary of YOOV Group Holding Limited (“YOOV”), providing enterprises with factoring solutions and accounts receivable management, allowing enterprises to maintain sufficient cash flow to support its long-term business development.
Parent company, YOOV provides all-in-one cloud management platform offering services from cloud management system, domain, to business email and POS systems, driving corporate digital transformation and helping enterprises to streamline workflow through effective digital solutions. YOOV offers YOOV PLUS – no code management platform, YOOV WORK – HR management and workflow approval system and YOOV EAT – restaurant POS system to help customers enhance management efficiency, the company also developed YOOV CAPITAL – factoring services to support customers in cashflow management.
Learn more: www.yoov.com