\n<\/p>\n
AMSTERDAM, THE NETHERLANDS\u00a0–\u00a0Media
\u00a0<\/p>\n COVID-19 has negatively impacted SME exporters
\u00a0<\/p>\n “2021
\u00a0<\/p>\n Increase in the facility amount will help
\u00a0<\/p>\n “We are incredibly excited at Silicon Valley
\u00a0<\/p>\n “We are excited to take our partnership with
\u00a0<\/p>\n MODIFI is the only digital trade finance
\u00a0<\/p>\n MODIFI currently operates out of 9 offices in
\nOutReach<\/a>\u00a0– 15 December 2021\u00a0<\/b>–\u00a0<\/b>Global fintech MODIFI<\/a> today
\nannounced 145m USD in debt
\nfinancing with existing bank partners Silicon Valley Bank and Solarisbank. The
\nfunds will be used to address increasing demand and help more small and
\nmedium-sized enterprises trade internationally on MODIFI’s digital platform. <\/p>\n
\nand importers, with the trade finance gap widening to 1.7 trillion USD, 15%
\nhigher than 2 years ago. As global trade is booming and consumer demand is on
\nthe rise, they are unable to capitalize on new opportunities and navigate
\nthrough supply chain disruptions.<\/p>\n
\nhas been a challenging year for SMEs, who had to cope with logistics issues and
\nskyrocketing freight rates amid a strong rebound in
\nconsumer demand. We were able to step in and help our clients get additional
\nliquidity and risk protection, thus enabling them to fulfil extra orders and
\ngrow their business. We are
\nexcited to continue our partnership with Silicon Valley Bank and Solarisbank
\nand are honored by their commitment to our mission” says CEO and Co-Founder
\nNelson Holzner. <\/p>\n
\naddress growing demand for the MODIFI products in the company’s markets
\nworldwide. MODIFI has quadrupled its business year on year with India remaining
\nthe largest single market, and Greater China, UAE and Germany actively picking
\nup pace. 2021 started off with MODIFI’s launch in the Netherlands, the US and
\nBangladesh. <\/p>\n
\nBank to build on our existing relationship with MODIFI as it continues on its
\ntrajectory to become a leading provider of trade financing products. With trade
\nseverely affected by the restrictions resulting from COVID-19 and other
\nmacroeconomic issues, trade financing has been instrumental in reducing the
\nadverse effects to businesses relating to both exports and imports. Our
\ncontinued partnership showcases the ability of SVB’s warehouse financing
\nplatform to play a pivotal role in the growth of cutting edge fintechs like
\nMODIFI”, says Conor Sheehy, Head of Fintech Warehousing at SVB EMEA.<\/p>\n
\nMODIFI to the next level and help more SMEs manage their liquidity and emerge
\nas winners from the current supply chain crisis. There is a growing need for
\ninnovative solutions that remove barriers, increase transparency and enable
\nsmall and midsize businesses to trade on a par with larger corporates. At
\nSolarisbank, we are committed to empowering our partners to scale quickly and
\nserve more customers through our API-based lending platform”, says Nicolas Knecht,
\nManaging Director Lending of Solarisbank.<\/p>\n
\nplatform for SMEs that spans the three major trading regions of Europe, Asia
\nand North America – a cluster which encompasses approximately 80% of global
\nimports and exports. It provides SMEs with simple digital solutions to finance
\nand manage their trades, protect them from counterparty risk, and easily track
\ntheir shipments. Having raised its Series B round in September, the company is
\nnow working on major upgrades to its digital platform, which will expand the
\nproduct offering beyond trade finance and allow MODIFI customers to take care
\nof all trade-related activities in one place.<\/p>\n
\nBerlin, Amsterdam, New York, Delhi, Mumbai, Shenzhen, Hong Kong, Dubai and
\nDhaka. <\/p>\n