Small and
\nmedium-sized businesses are turned down in 50% of cases when requesting trade
\nfinance, which has resulted in a 1.5 trillion USD annual funding gap. The
\npandemic has only exacerbated the situation as risk appetite decreased
\nglobally. MODIFI is empowering SMEs to trade internationally and grow, thus
\nbenefiting local economies. <\/p>\n
\n
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\n
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“We are excited to partner with Silicon Valley
\nBank on our journey to digitize the global trade industry, which has
\ntraditionally been extremely paper-heavy” says CEO and Co-Founder Nelson
\nHolzner. “The pandemic has forced many analogue processes to move online, and
\nwe are seeing more and more SMEs appreciating the value of a platform that
\nprovides them with trade finance from their own homes, whenever they need it”. <\/p>\n
\n
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\n
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“We’re pleased to become a new funding partner
\nto MODIFI to support its geographical expansion to the US, further investment
\nin its digital platform and continued growth. Our partnership builds on the
\nmomentum of SVB’s warehouse financing platform in EMEA as it showcases our
\nability to be a key partner in financing global innovators like MODIFI”, says
\nFolake Shasanya, Managing Director of Fintech Warehousing at SVB EMEA. <\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“Supporting innovation is in our DNA and we
\nare delighted to provide this significant facility to MODIFI through our EMEA
\nwarehouse financing team from our SVB German Branch”, adds Christian Hoppe,
\nManaging Director, SVB Germany. <\/p>\n
\n
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\n
<\/p>\n
MODIFI tripled their business in 2020 as a
\nresult of a strong performance during the pandemic. The increase in demand for
\ndigital cash management solutions allowed the company to expand to four new
\nmarkets in 2020, launching in China, Hong Kong, the UAE and Spain. The trend
\nhas continued in 2021 with MODIFI’s launch in the Netherlands. The company
\ncurrently operates out of 7 offices in Berlin, Amsterdam, Delhi, Mumbai,
\nShenzhen, Hong Kong and Dubai. <\/p>\n
\n
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\n
<\/p>\n
“Despite the unprecedented disruption to the
\nworld’s economies, 2020 proved a strong year for MODIFI. As global supply
\nchains were destabilized, SMEs found it harder to trade on favourable credit
\nterms. We were well positioned to step in and address the needs of the market”
\nsays Holzner. “Our simple tech solutions allow us to digitally underwrite our
\ncustomers and provide them with import and export financing in a matter of
\ndays”. <\/p>\n
\n
<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"MODIFI will use the funds to
expand into the US. MODIFI’s digital trade finance
platform provides SMEs with buyer and seller financing in a matter of days. MODIFI tripled its business in
2020 and launched in four new markets during the pandemic – China, Hong Kong,
UAE and Spain. The trend has continued in 2021 …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/13248"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=13248"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/13248\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=13248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=13248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=13248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}