\n<\/p>\n
\n
<\/p>\n
MUMBAI, INDIA
\u00a0<\/p>\n
The sale of PrimaDollar’s export trade
\u00a0<\/p>\n
MODIFI provides trade finance to
\u00a0<\/p>\n
Tim Nicolle, CEO of PrimaDollar,
\u00a0<\/p>\n
Nelson Holzner, CEO and Co-Founder of
\n& AMSTERDAM, THE NETHERLANDS\u00a0–\u00a0Media
\nOutReach<\/a>\u00a0–\u00a024 February 2021 – PrimaDollar has made the strategic decision to
\nfocus on its category-leading supply chain trade finance platform. This is an
\nenterprise, SaaS, technology solution that enables large and mid-sized
\nimporters to take control over how their international suppliers are funded and
\npaid. With the increasing success of this platform and focus on larger clients,
\nPrimaDollar’s board has determined that its existing export customers, who are
\ntypically SMEs, will be better served by moving across to one of the dedicated
\nexport trade finance specialists operating with a similar geographic footprint.
\nPrimaDollar selected MODIFI<\/a> after a full market review. <\/p>\n
\n
<\/p>\n
\n
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\nfinance business to MODIFI has now completed. The transaction only relates to
\nfuture business, with PrimaDollar retaining its current outstanding trade
\nfinance book. <\/p>\n
\n
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\n
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\nbusinesses across the world on a single digital platform. The company has offices in Amsterdam, Berlin, New Delhi, Shenzhen, Hong Kong
\nand Dubai. With digital onboarding and a paperless platform, customers can get
\nworking capital in a matter of days. MODIFI pays exporters’ outstanding
\ninvoices and covers the risk of buyer defaults.\u00a0
\n<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\ncommented that “We believe that MODIFI is the international digital trade
\nfinance company best placed to ensure that our export finance customers across
\nSouth and East Asia will continue to receive exemplary service and a reliable
\nsource of low-cost liquidity in support of their international trade. We
\ncontinue to be excited by the enormous growth potential open to us in trade
\nfinance — potential that has increased substantially during the pandemic. We
\nare expanding quickly and expect to be an ever-growing part of the trade
\nfinance landscape.”<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nMODIFI, commented “MODIFI is delighted to take on PrimaDollar’s export trade
\nfinance customers in a deal which is fully aligned with our mission to enable
\nglobal trade. This is a significant milestone for MODIFI as it establishes us
\nas the leading global digital trade finance platform supporting small and
\nmedium-sized exporters and importers. In the next few weeks we’ll be working
\nhard to ensure a smooth transition and provide our new customers with excellent
\nservice to support their growth”. <\/p>\n