Sourcefin’s open-minded SMME funding wins Entrepreneur of the Year

Sourcefin recognised for enabling the forgotten South African SMME

Johannesburg, South Africa – Sourcefin is not just an alternative funding company – we were born to enable the forgotten SMME. We live to make South Africa better, one purchase order, one invoice, one tender and one deal at a time. Every decision we make is rooted in our ambition to partner for growth with South African SMMEs, who are often overlooked even though they are the backbone of our economy.

This week, Sourcefin was honoured with an award that celebrates the impact made by our purchase order funding and invoice discounting offerings. Our open-minded funding model, driven by smart technology and an exceptional team, is at the core of our impact funding and the reason Sourcefin’s impact was acknowledged.

Entrepreneur of the Year Award honours Sourcefin's innovation

Joshua Kadish (CEO), accompanied by Jordan Hertz (CCO) and co-founder, Marom Mishan received the Entrepreneur of the Year award on behalf of Sourcefin at a prestigious ceremony hosted in Sandton, Johannesburg. This recognition is a testament to the leadership, vision, and relentless drive that has guided Sourcefin to become a leader in purchase order funding and invoice discounting for South African SMMEs.

This award isn’t just a win for Sourcefin, but a win for every single SMME that has trusted Sourcefin to partner with them for growth. Together, we have proven that with open-minded funding, end-to-end business support and belief, SMMEs can overcome their growth hurdles and scale their businesses. It’s a celebration of where Sourcefin started, what we’ve achieved and where we’re headed — a brighter future for South Africa’s SMMEs and the communities they serve.

While accepting the award, Kadish reflected on the perseverance and hard work it takes to transform an idea into a thriving business that not only serves but enables its clients. “Together, we are working to make South Africa better, one purchase order at a time”, he said.

Sourcefin's open-minded funding model a gamechanger for SMMEs

Hertz shared Kadish’s sentiment and acknowledged Sourcefin’s commitment to the development of South African SMMEs. “Sourcefin is more than just a business. We empower SMMEs across South Africa to overcome challenges and achieve sustainable growth. We are driven by a shared vision of a thriving South Africa – a nation where our community flourishes with opportunities and growth.”

When Sourcefin was born in 2020 at the height of COVID-19, its co-founders set out with a clear goal: to partner with SMMEs often turned away by traditional funders and embark on a growth journey together. Our purchase order funding and invoice funding products were designed to provide SMMEs with funding – fast.

What does open-minded funding mean? It means giving SMMEs the freedom to go after bigger projects, cover operational costs and grow their business. Our approval process is future-focused and removes all the red tape that hinders many SMMEs from getting funding the traditional way. We focus on the SMME’s opportunity, not their history. We focus on the SMME’s future, not their past.

A call to partner with Sourcefin and enable more forgotten SMMEs

Central to Sourcefin’s success is its ability to unlock synergistic partnerships within the public and private sectors. To date, Sourcefin has partnered with entities in Gauteng (City of Joburg, Gauteng Department of Economic Development, and Gauteng Enterprise Propeller), KwaZulu-Natal (Ithala Bank) and the Northern Cape (Northern Cape Department of Economic Development and Tourism).

By 2027, Sourcefin aims to have secured a partnership in all nine South African provinces with partners who share Sourcefin’s commitment to enable South African SMMEs with sustainable funding and business support.

In his acceptance speech, Mishan called potential partners to action. “To the government and business leaders here tonight, your experience and influence can help us expand this [Sourcefin] impact across South Africa. I invite you to connect with me and the team to explore how we can work together.”

Sourcefin's open-minded SMME funding is just getting started

Fast forward four years since its 2020 founding, Sourcefin, together with its team, partners and clients, has deployed more than one and a half billion rand, has supported close to 1,000 SMMEs, and has delivered on 100% of deals approved across South Africa. And, in truth, Sourcefin’s journey has only just begun as we set our sights on enabling more South African SMMEs with our award-winning alternative funding solutions.

Although this award is recognition for all we’ve achieved, we are reminded daily that there is significant work left to do to successfully bridge the R300 billion funding gap facing South African SMMEs. We are committed to partnering with more SMMEs and enabling them to reach their full potential, improving service delivery in communities across South Africa and inevitably creating more jobs while strengthening the South African economy.

If you are an SMME in need of purchase order funding or invoice discounting, or you have clients needing funding, connect with us today!