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SC Ventures, Standard Chartered’s innovation arm, has today launched a digital platform to assist small and medium-sized enterprises (SMEs) across the Asia Pacific region.
The new venture, called Labamu, offers digital invoicing and billing services alongside integrated banking features. It launches first in Indonesia, but expansion is planned across APAC, tapping into the region’s $2.5 trillion SME market.
The platform aims to help SMEs boost sales through both physical and digital marketplaces. Users can receive payments directly into their bank accounts through embedded banking services, with working capital financing planned for future rollout.
Digital billing, inventory management, and customer relationship tools are also designed to enhance operational efficiency.
“Every small business contributes to shared economic prosperity and we want to empower them,” said Emmanuel Van De Geer, CEO of Labamu. He emphasised the platform’s integration of financial services as a key differentiator in the market.
Southeast Asia’s SME sector accounts for 90% of companies and 80% of employment across six major markets in the region.
Labamu has placed particular focus on female entrepreneurship through its “Wanita Tumbuh Bersama” campaign, which has provided business management training to more than 7,500 SME owners.
In its incubation phase, Labamu attracted over 80,000 SME owners.
