As an SME in Singapore, it could be difficult trying to find the necessary resources to support business operations, especially when you’re on a tight budget, have to deal with various fees including overseas transactions, taxes and payrolls.
This is where Funding Societies, Southeast Asia’s largest SME digital financing platform, comes in. Currently operating within the region including Singapore, Malaysia, Indonesia, Vietnam and Thailand, Funding Societies launched their latest solution – Elevate, a Virtual Expense Card + Credit line, for Singaporean SMEs, to support their growth at no additional fees.
Other than allowing businesses to control and pay for business expenses easily, users can also enjoy a 55-day interest-free period from the virtual credit line.
The Elevate virtual card is open to all types of Singapore registered businesses and entities. The requirements to get started are:
A minimum of 6 months of operating history
A minimum of 30% local shareholding.
Here’s a step-by-step guide to applying for Elevate:
Apply using MyInfo for an account within 2 minutes
Once processed and submitted, the approval status will be updated within 24 hours
Activate the business card via the FS Business - Elevate card app
Enjoy and start spending!
Using the FS Business Elevate card app allows businesses to view their past statements, issue and activate unlimited cards immediately, block/suspend cards, and change the password all within one place. In the near future, the app is also working toward offline payment via mobile wallets such as Samsung Pay, Google Pay, and Apple Pay.
Benefits of Elevate
Elevate is partnered with Mastercard®, allowing for the usage of the card wherever Mastercard can be used. There are no fees associated with signing up with Elevate except for interest fees on overdue payments.
In the aspects of entertainment, Elevate gives businesses the advantage of:
Free 1GB Global Data Roaming with FlexiRoam
Mastercard SEA Golf, tee-off anytime with 50% discount on fees
Car Rental discounts up to 25% with selected providers
To protect against various liabilities, Elevate has:
E-Commerce Protection - Elevate will cover purchases up to USD500
Mobile phone protection against theft and damage
Corporate Liability Waiver - protecting your business from employee misuse
Food and Amenities
For benefits on business trips and basic amenities, Elevate offers:
1 Free dine-in at participating restaurants
1 Free night on your business stays with participating hotels globally
Funding Societies’ Referral Program allows the Referrer and Referee to earn just by signing up for the Elevate Virtual card.
Terms and Conditions:
You can apply using a referral here.
Terms and Conditions:
You can apply for an Elevate Virtual Expense Card here.
Elevate is aware that time is the essence of all businesses, so it’s #timetoelevate and Elevate your business journey!
For further resources for other products by Funding Societies, below are a few additional resources that might help:
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