South African fintech operator SME Snapshot has achieved further recognition in 2020, being selected as part of the Grindstone Accelerator program for high potential technology businesses.
Developed to integrate with your accounting system, SME Snapshot is a powerful tool which assists accountants, financial managers and entrepreneurs get real-time data analytics out of their business. Apart from putting all your business-critical information on a single dashboard, SME Snapshot allows entrepreneurs to compare their key business metrics including profitability, against industry peers.
This is the second time that SME Snapshot has received recognition in 2020 having previously been selected as part of the Africa-France Summit and Digital Africa has one of the technology firms to watch on the African continent.
The Grindstone Accelerator is a structured entrepreneurship development programme that assists high-growth innovation-driven companies to get the fundamental building blocks in place to scale quickly, become sustainable and/or fundable.
“2020 has been a good year for us from both a customer acquisition and industry recognition perspective,” says SME Snapshot director Tyronne Nel. “We are expecting to have over 10 000 people on the system by the end of the year and this will greatly enhance our ability to provide real-time data on the health and wellbeing of SMEs.”
Nel points out that access to higher quality data around financial trends in sectors could be a significant catalyst for opening up funding channels and allowing for more scalable and higher impact Enterprise and Supplier Development initiatives.
“In South Africa, funding is expensive because funders cannot mitigate their risk with access to aggregated data – as SME Snapshot scales, we can play a pivotal role in driving down the cost of funding,” explains Nel.