Asenso Singapore is an end-to-end MSME (micro, small, and medium entrepreneurs) business accelerator. The company is building an integrated platform by leveraging new technologies to provide access to supply chain, fair capital, the marketplace, loyalty, and reward systems to Asian MSMEs.
Asenso Tech is a joint venture between Talino and CARD-MRI. CARD-MRI is the leading microfinance institution in the Philippines. The company has 3.25M active loan clients and a $282M loan portfolio. is An enterprise venture accelerator, Talino Venture Labs builds startups in partnership with big corporations to address their needs which have not been met by using cutting-edge technology and providing them the agility and scale.
The idea behind Asenso Singapore was to create an integrated supply chain and a link between consumer packaged goods manufacturers and MSMEs especially the local community-based stores. According to the company, 64 million MSMEs account for 97.2% of employment in South East Asia and in the Philippines alone, MSMEs comprise 99.6% of all registered businesses and provide 70% of nation’s employment.
The company has been founded by Winston Damarillo. Winston is a venture capitalist who is also the CEO of Talino Venture Labs. He has done BS in industrial and mechanical engineering from the De La Salle University. Winston has been recognized as a Young Global Leader by the World Economic Forum.
Asenso’s Working Methodology
Asenso Singapore plans to help the Asian MSMEs through its 4 pillars- “Puhunan” (capital), sustainable capital through low-cost and frictionless microfinancing; “Likha” (to create), an integrated marketplace to support local community entrepreneurs; “Suki”(a frequent customer), smarter rewards to incentivize loyal entrepreneur-customers; “Paninda”(stocks for sale), lower product prices through an aggregated demand marketplace.
Asenso Singapore- Harnessing Technology To Stimulate Growth In Asian MSMEs
Asenso Singapore makes bank-backed, fixed and low-interest microfinancing options accessible to micro-entrepreneurs. The credit scoring is done on an AI-based model which enables frictionless microfinancing approvals. The loan applications are Chabot-assisted and the use of NLP (natural language processing) ensures that the agents understand the local language. Besides that, there is cashless e-wallet and a data-driven online marketplace for MSMEs.
The Road Map
Asenso Singapore has recently announced that it has received US$1.2 million investment from Talino Venture Labs and CARD-MRI. The funding has been provided to focus on building Inclusion Tech and to address the micro-businesses. The company plans to strengthen its platform to give equal opportunity to micro-businesses to compete with big businesses.
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Image Source –Asenso Singapore Official Website, pixabay.com