The Global Fintech Company Raises 24 million dollars in Equity
... NEW YORK, Sept. 14 - 2021 /PRNewswire/ -- Global fintech MODIFI announced $24 million in funding, which brings its value to more than $20 million. The round was led by new investor Heliad Equity Partners, and the co-investment of Neva SGR, the venture capital investment vehicle of the Italian leading banking group Intesa San Paolo. Global Founders Capital, Maersk Growth, and Picus Capital participated significantly, including Global Capital Capital and Global Global Corporation Capital. The funds will be used to transform MODIFI's digital trade finance platform for Small-to-Middle-Discount-SMEs into a global trade management hub.
MODIFI is the only digital trade finance platform for SMBs that spans three major trading regions of Europe, Asia, and North America, a cluster that covers 80 percent of global imports and exports. It provides simple digital solutions for SMBs to finance their trades, protect them from anti-compliance risk and quickly track and manage their shipments. The new funding round will power major upgrades to the platform, allowing MODIFI customers to take care of all trade-related activities in one place. It includes the finding of new trade partners and the management of foreign exchange risk, among other things.
In the United States, the SMBs account for 98 % of exporting companies, but only 33 3% of the export value. 1 . Their ability to grow is hindered by difficult relationships in finding business partners, securing financing, and lack of online payment options. After COVID-19 hit, SMBs were left stranded by traditional channels to find new business opportunities, such as trade shows and in-person meetings. Having relied on traditional methods to make sure the business could be MODIFI's mission is to enable SMBs to trade and grow their business, and thus benefit local economies. The company has already financed more than $100 million worth of trades and works with sellers and buyers of the US.
"Smaller businesses lack the tools and the knowledge of business to trade with ease and comfort of their larger counterparts. The solutions available are fragmented and don't approach the problem holistically. We successfully digitized the trade finance industry and are now developing our platform into a comprehensive trade management hub that can allow SMBs to control their global trade activities. Nelson Holzner, CEO and co-founder of MODIFI.
"MODIFI has not only grown in business and outreach over the last few years, it also evolved into its approach to addressing systemic issues related to global trade. We're very happy to support the stellar team around Nelson Holzner, Sven Brauer and Jan Wehrs at MODIFI in their journey to become the leading trade finance and management platform for SMBs. The small business is the backbone of local economies, and it's critical that we help them grow and flourish," said Faulk Schaefers, CEO of Heliad Equity Partners.
"The ability to raise money and attract investors and industry partners worldwide in very short time confirms MODIFI's enormous potential to become a billion euro company. It's clear that global trade needs digital solutions. I'm going to see the company tackle a broader set of issues related to global trade, said Mario Costantini, CEO of Neva SGR.
MODIFI successfully launched in the US, Netherlands, and Bangladesh in 2021, after raising a 60m debt facility from the Silicon Valley Bank. The company operates in nine offices in New York, Berlin, Amsterdam, Delhi, Mumbai, Dhaka, Shenzhen, Hong Kong and Dubai.
MODIFI : MODIFI is a global fintech company that helps small and medium-sized businesses (SMBs) finance and manage their international trades. MODIFI offers simple digital solutions for SMBs across more than 40 countries who trade like large corporations. The company can help business grow with its digital platform, fostering strong international partnerships and benefiting local economies. For more information on how small and medium-sized businesses grow with MODIFI, visit www.modifi.com or follow us on Twitter. LinkedIn and Twitter .
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1 http://www.exportplanning.com/magazine-us/article/2021/03/04/the-potential-of-smes-in-the trade-foreign/.
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