MOBOT: Gearing Up for Success

Running a small business is a little like riding a bike – sometimes it's a smooth, scenic cruise, other times you're navigating unexpected bumps and sharp turns.

MOBOT, Singapore's largest foldable bike, e-bike, and personal mobility device retailer, knows this all too well. Their journey, from a single shop selling e-scooters in 2014, to seventeen outlets island-wide selling a variety of products, has been one of constant adaptation and resilience.

Think about it: pivoting from e-scooters to folding bikes to personal mobility devices, embracing the power of TikTok during a global pandemic, and managing inventory across multiple locations takes serious agility.

And just as a cyclist needs the right gear, MOBOT needed the right financial partner to navigate these challenges.

A solution that suited MOBOT’s specific challenges

In early 2022, MOBOT was looking for a boost to keep their wheels turning. At CIMB Bank, we listened, understood their unique needs, and offered a tailored solution that included a business loan and property financing. This wasn't just about crunching numbers; it was about understanding MOBOT's vision and providing the financial support to help them achieve it.

The financing helped MOBOT stabilise, expand their business, and secure a property to safely store their growing inventory. 

Recognising the importance of partnership

For Ifrey, MOBOT's owner, the partnership with the CIMB Bank extends beyond financing. He appreciates the bank’s personal approach, particularly the dedicated relationship manager. In a world of automated responses and generic solutions, having a direct line to someone who understands your business isn’t just more convenient, it’s invaluable. Ifrey knows he has a reliable financial partner who is invested in his success.

A Banking Partner that Empowers Businesses 

CIMB Singapore offers a comprehensive range of services to promote business growth. These include business accounts, working capital loans, and best guaranteed SGD-MYR exchange rates. All backed by an unwavering commitment to customer-centricity and a deep understanding of the needs of SMEs.

So if you're a small business owner facing your own set of challenges, CIMB Bank offers solutions to help you navigate the road ahead. 

Our strategic connectivity in the ASEAN region, especially our role as a gateway between Singapore and Malaysia, means we are a vital partner for businesses looking to expand across borders.

Just like we did for MOBOT, CIMB empowers SMEs to seize growth opportunities by finding the right solutions to keep business moving forward, no matter what the terrain.

To find out how CIMB Bank can help your business, visit cimb.com.sg/business or or speak to us.