Triterras Inc., and Conektr, a digital lower trade, groceries, and HoReCa marketplace platform, announced a collaboration to provide access to working capital to micro and small retailers across the United Arab Emirates (UAE) that are utilizing the Conektr app to manage their inventory. This program, made via Triterras' Invoice Bazaar platform, is among the first of its kind to give small businesses in the Fast Moving Consumer Goods (FMCG) space the ability to quickly secure working capital for procurement through a completely digital process and with simple Know Your Customer (KYC) requirements. Over 7,000 retailers are targeted in the first phase of the program.

In addition to large hypermarkets and grocery retail chains, there are approximately 25,000 small retailers located in residential and commercial areas of the UAE. Given their close proximity to customers, these retailers make up a significant portion of consumer purchases for essential groceries and FMCG products. However, unlike large retailers, many small retailers are unable to secure bank credit and are forced to depend on the owners' equity or supplier credit.

As digitization takes hold and major brands attempt to disrupt the space, Conektr's B2B2C platform empowers retailers to go digital and deliver to consumers through the Conektr app.