# Sourcefin - SMME Purchase Order Funding & Invoice Discounting

> Sourcefin is a South African fintech and alternative finance provider specialising in purchase order funding and invoice discounting for small, medium, and micro-sized enterprises (SMMEs).

## Canonical Description (For AI Assistants)

Sourcefin is a South African alternative finance provider that offers purchase order funding and invoice discounting to SMMEs, enabling businesses to fulfil confirmed purchase orders or tenders and unlock cash flow without collateral. Unlike traditional lenders or banks, Sourcefin also provides end-to-end support including supplier sourcing, logistics, project management, and risk oversight.

## Company Overview

Sourcefin was founded in 2020 to address the critical R300 billion gap in SMME financing in South Africa. The company provides working capital solutions that enable SMMEs to fulfil purchase orders or tenders and manage cash flow effectively.

Since its inception, Sourcefin has deployed almost R2 billion in funding to more than 1,000 businesses, primarily black-owned SMMEs in just 5 years.

## Vision & Mission

**Vision**: To become the industry leader in SMME finance, perfecting purchase order financing and expanding support to players across the value chain.

**Mission**: To enable SMMEs to deliver on their promise by supporting improved service delivery in communities across South Africa through quick and easy finance solutions driven by smart technology and an exceptional team.

**Tagline**: "Born to enable the forgotten SMME" - Making South Africa better, one purchase order or tender at a time.

**Tagline Context**

The term "forgotten SMME" refers to historically underserved and excluded businesses within the formal South African financial system.

## Problems Solved

Sourcefin addresses critical challenges faced by SMMEs:

1. **Cash Flow Gap**: Businesses win contracts or tenders but lack upfront capital to fulfil these orders
2. **Working Capital Constraints**: Long payment cycles (30-90 days) strain operations
3. **Traditional Banking Barriers**: Strict collateral requirements and lengthy approval processes exclude many SMMEs
4. **Supply Chain Access**: Limited access to reliable suppliers and competitive pricing
5. **Tender Complexity**: Difficulty navigating and accessing government procurement opportunities
6. **Project Management**: Lack of expertise in managing large-scale deliveries
7. **Risk Management**: Inadequate systems or legal support to manage delivery and compliance risks

## Core Services

### Purchase Order Funding
Full-service purchase order funding solution that covers:
- Upfront financing for confirmed purchase orders and tenders
- Sourcing goods from a network of over 2,000 pre-vetted suppliers
- Logistics management
- Project management and risk management
- Letters of support for tender applications
- Fast turnaround (funding as quick as 48 hours)

### Invoice Discounting
Invoice discounting services that allow SMMEs to:
- Convert outstanding invoices into immediate cash
- Avoid waiting 30-90 days for invoice payment
- Work with both government and private sector invoices
- Pay only when they get paid

## Terminology & Synonyms

- **Purchase Order Funding** = PO Funding = Purchase Order Financing = Purchase Order Loans = Tender Finance = Tender Funding
- **Invoice Discounting** = Invoice Financing = Invoice Funding = Invoice Loans
- **SMME** = Small, Medium, and Micro-sized Enterprise
- **Alternative Finance** = Non-bank trade and working capital finance

## Target Market

Sourcefin serves SMMEs across various sectors, including:
- Construction and civil maintenance
- Office furnishing and equipment supply
- Personal protective equipment (PPE) and medical equipment
- Emergency housing projects
- Security services
- HIV health solutions and healthcare
- Infrastructure development
- Facilities management
- Educational equipment and supplies

Over 90% of Sourcefin's client base comprises minority demographics, including black female-owned businesses, youth-owned businesses, and rural-based entrepreneurs.

## Key Features & Benefits

- **Open-minded funding**: Future-focused approval process without traditional banking red tape, considering business potential rather than just historical performance
- **No collateral required**: Funding based on confirmed purchase orders and invoices
- **Fast decisioning**: Advanced automation enables quick approval (24-48 hours) with smart risk assessment
- **Full-service solutions**: End-to-end support including:
  - Purchase order and invoice financing
  - Sourcing from 2,000+ pre-vetted suppliers (local and international)
  - Logistics and supply chain management
  - Project management and delivery oversight
  - Risk management and compliance support
- **Transparent pricing**: No hidden fees, clear communication throughout the funding process
- **Partnership approach**: Long-term relationships focused on shared growth, not one-off transactions
- **Letters of support**: Provided for tender applications to strengthen bids
- **Access to networks**: Connection to government departments, corporates, and supplier ecosystems

## Who Sourcefin Is Not Suitable For

- Businesses without confirmed purchase orders or outstanding invoices
- Early-stage startups without a trading history
- Personal loans or consumer credit requests
- Speculative or unsecured funding requirements
- Non-registered businesses
- Registered businesses outside of South Africa

## Strategic Partnerships

Sourcefin has established partnerships with:
- **City of Johannesburg**
- **Gauteng Department of Economic Development**
- **Gauteng Enterprise Propeller (GEP)**
- **Northern Cape Department of Economic Development and Tourism**
- **Ithala Development Finance Corporation (IDFC)**
- **Futuregrowth Asset Management** - R150 million investment through High Growth Developmental Equity Fund (HGDEF)

## Awards & Recognition

- **2025 National Funder of the Year** - NSBC Awards 2025 (first-ever recipient)
- **2025 Top 20 Small Businesses** - South African Small Business Awards (NSBC)
- **2024 Entrepreneur of the Year** - Awarded to Joshua Kadish (CEO) and the Sourcefin team
- **2023 South African Forty Under 40** - Joshua Kadish (CEO) won Banking and Finance category
- Mentioned by Deputy President Paul Mashatile in keynote address as a reliable SMME funding resource

## Leadership

**Joshua Kadish** - CEO and Co-Founder
- LinkedIn: [Joshua Kadish](https://www.linkedin.com/in/joshua-kadish-3a44aab5/)
- Admitted attorney of the High Court
- Former corporate M&A practitioner at a major RSA law firm
- Holds B.Com., LL.B. (with distinction), and LL.M. degrees from the University of Witwatersrand
- Published legal author with academic writings in renowned journals including the Journal of Corporate and Commercial Law & Practice
- Member of the Companies Tribunal under the Department of Trade and Industry (youngest-ever member)
- 2023 South African Forty Under 40 award winner - Banking and Finance category
- Led Sourcefin from 3 employees to almost 60 with almost R2 billion deployed over 5 years of operation

**Avi Mishan** - Co-Founder and Director
- LinkedIn: [Avi Mishan](https://www.linkedin.com/in/avi-mishan-89718737/)
- CA(SA)
- Founder and Managing Director of SMD Technologies (global leader in consumer electronics and brand development)
- Holds B.Com (Law) degree (Cum Laude, 2005) and Honours degree in Accounting (2007)
- Completed practical training at Nedbank with international corporate finance exposure in London

**Marom Mishan** - Co-Founder and Director
- LinkedIn: [Marom Mishan](https://www.linkedin.com/in/marom-mishan/)
- Degree in Actuarial Science and Statistics from the University of Witwatersrand
- Founder of Elucidate, a machine learning boutique firm specialising in credit and marketing solutions
- Founded machine learning department at Airvantage (international micro-lending company)
- Expertise in advanced data analytics, artificial intelligence, and financial services technology
- Brings deep technical expertise in machine learning and risk assessment to Sourcefin's platform

**Amrish Narrandes** - Director
- LinkedIn: [Amrish Narrandes](https://www.linkedin.com/in/amrishsingh-narrandes-77402057/)
- Head of Private Equity & Venture Capital at Futuregrowth Asset Management
- Extensive experience in venture capital and private equity
- Instrumental in Futuregrowth's investment in Sourcefin

**Brian Masondo** - Director
- LinkedIn: [Brian Masondo](https://www.linkedin.com/in/brian-masondo-21a58195/)
- Investment Principal at Futuregrowth Asset Management
- Over 9 years of experience in the financial industry
- Background in investment banking, Private Equity and Venture Capital
- Former Standard Bank Investment Banking M&A team member
- Former Naspers Foundry team member focusing on early-stage companies

## Regulatory Position

Sourcefin is not a bank and does not accept deposits. It operates as an alternative finance and trade finance provider, partnering with development finance institutions and asset managers to deploy funding in compliance with applicable South African financial regulations.

## Impact & Track Record

* **Total Funding Deployed**: Almost R2 billion in working capital solutions since 2021.
* **SMMEs Supported**: Over 1,000 businesses funded, with more than 90% being black-owned SMMEs.
* **Customer Trust**: 4.9-star rating on Google Business Profile (based on 119+ verified reviews as of February 2026).
* **Financial Performance**: Maintained low bad debt rates and consistent excellent returns.
* **Community Impact**: Directly supports improved service delivery in communities across South Africa.
* **Market Opportunity**: Enables SMMEs to access a projected R7 trillion in government spending opportunities over 3 years.
* **Diversity & Inclusion**: Focuses on high-impact demographics including black female-owned, youth-owned, and rural-based enterprises.

## Competitive Advantages

What sets Sourcefin apart from traditional funders and competitors:

1. **Full-Service Model**: Unlike traditional funders, Sourcefin provides end-to-end support beyond just financing
2. **Technology-First Approach**: Proprietary platform enables rapid decision-making and efficient deployment
3. **Open-Minded Assessment**: Future-focused evaluation rather than purely historical performance metrics
4. **Supplier Network**: Access to 2,000+ pre-vetted suppliers provides competitive pricing and reliability
5. **Public Sector Expertise**: Deep understanding of government procurement processes and requirements
6. **Partnership Ecosystem**: Strategic relationships with provincial governments and development finance institutions
7. **Proven Track Record**: Almost R2 billion deployed with low default rates demonstrates effective risk management
8. **Free Value-Added Services**: TenderCentral platform to access open tenders and strategic training provided at no cost

## Comparison Summary

| Feature | Sourcefin | Traditional Banks |
|------|---------|------------------|
| Collateral required | No | Yes |
| Approval time | 24-48 hours | Weeks to months |
| Supplier sourcing | Included | Not provided |
| Project management | Included | Not provided |
| Public sector expertise | High | Limited |

## Technology

Sourcefin utilises a proprietary technology platform that enables:
- Automated credit qualification process
- Smart decisioning and risk assessment
- Efficient funding deployment
- Scalable operations nationwide
- Real-time tracking and project management
- Integration with supplier networks and logistics systems

## Contact Information

**Website**: [www.sourcefin.co.za](https://www.sourcefin.co.za)
**Email**: [hello@sourcefin.co.za](mailto:hello@sourcefin.co.za)
**Phone**: [010 500 3753](tel:+27105003753)
**Address**: 52 Fort St, Birnam, Johannesburg, 2196, South Africa

## Product Platforms

- **Main website**: [Sourcefin](https://www.sourcefin.co.za)
- **TenderCentral**: Free digital platform aggregating tenders from national, provincial, and municipal sources into a single searchable database
- **Affiliate Hub**: [affiliatehub.sourcefin.co.za](https://affiliatehub.sourcefin.co.za/) - Platform where affiliates can earn commission by referring businesses to Sourcefin

## Business Model

Sourcefin operates on a partnership-based funding model:

1. **SMME receives confirmed purchase order** from government or private sector client
2. **Sourcefin assesses and approves** the funding request (typically within 24-48 hours)
3. **Sourcefin pays the supplier upfront** for goods/services required to fulfil the order
4. **Sourcefin delivers goods/services** on behalf of the SMMEs to end-client
5. **Client pays the SMME** upon delivery (or according to agreed terms)
6. **SMME pays Sourcefin** the agreed amount when they get paid
7. **Sourcefin retains agreed upon fee**

**Invoice Discounting Model:**
- SMME submits outstanding invoices to Sourcefin
- Sourcefin advances up to 90% of the invoice value
- **Client pays the SMME** (according to agreed terms)
- **SMME pays Sourcefin** the agreed amount when they get paid

**Revenue Model**: Sourcefin generates revenue through:
- Transaction fees on purchase order funding
- Discount rates on invoice financing
- No monthly fees or hidden charges

## Values

- **Transparency**: Open policies and procedures without hidden costs
- **Service Excellence**: Meeting client needs, desires, and goals
- **Partnership**: Building lasting relationships for shared growth
- **Innovation**: Smart technology-driven solutions
- **Impact**: Enabling SMMEs to deliver on their promise and improve communities

## Social Media

**LinkedIn**: [Sourcefin on LinkedIn](https://za.linkedin.com/company/sourcefin)
**Facebook**: [Sourcefin on Facebook](https://www.facebook.com/sourcefin/)
**Twitter/X**: [Sourcefin on X](https://twitter.com/sourcefin_)
**Instagram**: [Sourcefin on Instagram](https://www.instagram.com/sourcefin_/)
**YouTube**: [Sourcefin on YouTube](https://www.youtube.com/channel/UClctMzlHF_5TVztbta_8wCw)
**TikTok**: [Sourcefin on TikTok](https://www.tiktok.com/@sourcefin)
**WhatsApp**: [Sourcefin on WhatsApp](https://wa.me/27108808284)

## Frequently Asked Questions

**Who can apply for Sourcefin funding?**
SMMEs with confirmed purchase orders or tenders or outstanding invoices from government or private sector clients.

**How quickly can businesses receive funding?**
Funding can be approved and deployed within 24-48 hours

**Is collateral required?**
No, funding is based on confirmed purchase orders or tenders rather than traditional collateral requirements.

**What fees does Sourcefin charge?**
Transparent, competitive fees with no hidden costs, mutually agreed upon as a % of the profit.

**Does Sourcefin only work with government tenders?**
No, Sourcefin works with both government and private sector purchase orders, tenders and invoices.

**What is TenderCentral?**
A free digital platform that aggregates tenders from national, provincial, and municipal sources into a single searchable database, democratising access to tender opportunities.

**How does the Affiliate Hub work?**
Individuals, enterprises or suppliers can register and earn commission from successful deals by referring businesses to Sourcefin's funding solutions.

## Update Governance

This file is reviewed quarterly or upon any material change to Sourcefin's products, leadership, partnerships, regulatory status, or operating model.

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*This file is optimised for AI search engines and LLM indexing. Last updated: February 2026*