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Customer Story: How LendFusion Drives Business Scalability for Setana

written by the Vahuri Voolaid on the 3rd of May 2024

Setana Capital is a financial services provider specializing in stock credit for small to medium-sized retail businesses in South Africa, offering up to R200,000 in credit to spaza shops, distributors, and mini-wholesalers. This is their success story.

Setana’s Challenge 

Setana Capital approached LendFusion seeking a scalable loan management software, without significantly increasing their workforce. 

Having established a viable business model, they recognized the need for a loan management system to efficiently manage application processes, loan repayments, and communications. 

Setana’s primary requirement was for a robust and error-resistant system without the need to expand their workforce as their loan operations grew.

How Setana Selected and Implemented LendFusion

LendFusion initiated the project with a thorough analysis to understand Setana’s business needs and developed a platform that maintained usability. 

Following an agreement on MVP features and future additions, they tailored a cost-effective solution for Setana. Customization work began, guided by an analysis document, including coding, quality assurance, and testing. 

Setana’s onboarding process for new customers, which includes partnerships with other companies, was uniquely tailored. Additionally, LendFusion accommodated several enhancements to Setana’s reporting and communication systems.

After confirming the solution’s functionality, Setana conducted user acceptance testing, addressed feedback, and proceeded with system deployment. 

Despite some minor deployment issues, which were resolved with dedicated support, Setana successfully transitioned to the new platform and can now manage their loans more efficiently.

The Impact and Results Achieved With LendFusion

Before adopting LendFusion, Setana utilized a mix of spreadsheets, other Google Drive services, and basic email for operations. 

It took only 79 days for the launch of the live environment, and although the Setana team are still adjusting to the new system, they are pleased with its performance and the consolidation of critical data into one platform.

Best of all, Setana are now equipped to automate their manual processes, including application handling, loan repayment, and improve customer communications.

Here’s what Setana’s Co-founder, Khanya Ndzululeka CA said about the collaboration:

“The partnership with LendFusion has empowered us to manage our growing operations without expanding our workforce. That was important to us.

Their tailored solutions have been pivotal in streamlining our processes and enhancing our service delivery

We look forward to being a happy and satisfied LendFusion customer for many years to come!”

LendFusion’s CEO, Andres Valdmann, is proud to have Setana as a customer.

“We are thrilled to see Setana leverage our platform to excel in their business endeavors. 

We understood their challenges and have delivered a solution that solves them.
Our goal was to provide a robust system that supports their growth and efficiency, and we are committed to their continued success.

About Setana

Setana Capital is a financial service provider in South Africa, specializing in offering working capital and stock advances to small and medium-sized retail businesses. Setana focuses on providing sustainable capital solutions by integrating finance into the existing supplier value chains, aiming to enhance the stability and growth of these businesses.

About LendFusion

At LendFusion, we believe that growing your business should be easier.

We’ve developed our platform to give you everything you need to improve lending operation, such as:

  • Manage your loans efficiently
  • Reduce manual workload and tasks
  • Automate loan repayment and tracking

Want to see similar results like Setana?

Book a demo today and discover how LendFusion can help grow your lending business.

Vahuri Voolaid, COO

Vahuri is the Chief Operations Officer at LendFusion. Vahuri has 8 years of experience in fintech with loan management software as a product owner and an MBA with a specialisation in IT management.

Connect with Vahuri on LinkedIn.

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LendFusion is an affordable and user-friendly loan management system platform that helps you spend less time on the day-to-day operations and more time on getting sales and customers.

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