SMEgo Tackles SME Funding Challenges with SME South Africa

SMEgo, a digital platform powered by Old Mutual, has teamed up with SME South Africa to take part in this year’s SME Funding Summit. This key event focuses on unlocking access to finance for small and medium enterprises (SMEs).

The partnership underscores a shared commitment to support and empower the SME sector, which continues to face a range of hurdles. Access to funding remains one of the biggest challenges.

A Platform Built to Serve SMEs

SMEgo is part of Old Mutual’s broader SME strategy and is built to give entrepreneurs access to the tools and solutions they need to start, run, and grow their businesses. From funding to business insurance, cash flow tools, and financial tracking, all of this is available in one easy-to-use platform.

“First of all, this newly formed unit is a strategic step within Old Mutual because SMEs are the backbone of the economy,” explains Thandeka Dludla, Business Manager of the SME unit at Old Mutual. “We are doing a lot to empower them, but funding is the biggest need in the SME space. Across all industries and markets, that challenge is consistent.”

That’s part of the reason why partnering with SME South Africa for the Funding Summit was such a key move. “It was important for us to be there, in the room, showing up for the businesses we aim to support,” she adds.

Real Solutions for Real Business Needs

What SMEgo brings to the table is a broad range of funding options to tackle funding challenges. There’s no one-size-fits-all approach to SME finance.

“We’re here to listen,” says Dludla. “We want to hear what other players are doing and what SMEs are facing. Because we know we have solutions, from purchase order funding to asset finance and merchant cash advances, that can really make a difference.”

SMEgo is designed around the real challenges businesses face, like cash flow gaps and access to working capital. That’s why they’ve created a Funding Concierge, which brings together different types of funders in one place. It means businesses don’t have to waste time trying to figure out who offers what. They can find the right match quickly and easily.

“Not everyone is looking for a standard business loan,” Dludla explains. “Let’s say you’ve done the work but now you’re waiting to get paid. With invoice discounting, you can unlock cash against that invoice, easing that cash flow pressure.”

Other funding options available through the platform include contract finance, trade finance, and both secured and unsecured loans.

Walking the Road to Funding Readiness

But SMEgo isn’t just about connecting SMEs to money. It’s also about helping them get ready for it.

“We know not every entrepreneur is at the same point in their journey,” says Dludla. “That’s why we built this platform to also guide businesses on the path to funding readiness.”

That includes understanding key financial concepts like cash flow, credit health, and trade history, because those are the kinds of things funders look at. SMEgo offers tools to help businesses track cash inflows and outflows, monitor their credit scores, and build up the financial track record needed to apply for funding with confidence, regardless of their previous funding challenges.

“Most of our funders are debt funders,” she adds. “That means businesses need to be in a position to repay. It’s our job to help them understand what that means and get them there.”

Broader Access, More Opportunities

Every funder has its own criteria, and in some cases, that may include industry exclusions or risk considerations. But SMEgo’s mission is to keep the door open for as many SMEs as possible by partnering with a wide range of funders.

“We wanted to make the circle bigger,” Dludla says. “Different sectors have different needs, and we want to make sure those needs are met.”

While there are some limitations, like high-risk industries that some funders may avoid, the goal remains the same. SMEgo aims to provide businesses with clear, guided access to the financial solutions they need to grow.

Smarter Matching Through Tech

What makes SMEgo stand out is its use of smart matching. By answering a few simple questions, SMEs can be matched with funding options that align with their specific needs and business profile, without needing to scroll through long lists or guess who might help.

“Instead of businesses having to look for funders, the platform looks for them,” Dludla says. “It’s about making access to funding simpler, smarter, and more supportive.”