MODIFI, the #1 global platform for SMEs to finance and manage international trade, today announced a partnership with DP World, the leading global logistics company and provider of smart supply chain solutions. The partnership aims to facilitate rapid and seamless access to working capital by adding MODIFI’s trade finance products to CARGOES Finance By DP World.
CARGOES Finance By DP World is a fintech platform that brings together global importers, exporters, logistics companies and financial institutions to facilitate expeditious end-to-end global trade finance. CARGOES Finance provides lenders with access to data on cargo movements, enabling them to lend with confidence to SME segment.
DP World customers with cargo and shipping requests will now be able to take advantage of MODIFI’s trade finance products for both importers and exporters, enabling them to get access to working capital and manage their cash flow with confidence via a unified digital cockpit.
MODIFI is the only digital trade finance platform for SMEs that spans the three major trading regions of Europe, Asia and North America – a cluster which encompasses approximately 80% of global imports and exports. It provides businesses with simple digital solutions to finance and manage their trades, protect them from counterparty risk, and easily track their shipments.
Sinan Ozcan, Senior Executive Officer, DP World Financial Services Limited said: “This partnership with MODIFI marks another step in our mission to help bridge the ongoing global trade finance gap. With such valuable partnerships, the CARGOES Finance platform continues to expand in major trading regions across the globe, and provide more and more SMEs with further access to working capital solutions.”
Mike Bhaskaran, COO for Logistics & Technology, DP World said: “We strive to provide new solutions for our customers that not only add value to the service we provide, but also help to digitise the trade ecosystem and enable smarter trade across all markets. Our partnership with MODIFI will see us continue our progress on this mission, and continue developing the offering of the CARGOES Finance platform for our SME customers.”
Nelson Holzner, CEO & Co-Founder of MODIFI, said: “We are delighted to announce this strategic partnership with CARGOES Finance By DP World. With global trade witnessing significant disruption during the COVID-19 pandemic, finance and payments are playing a vital role in reducing the impact of disruption on importers and exporters. Our partnership with CARGOES Finance will deliver huge value across the supply chain by unifying our fintech platforms and allowing us to leverage each other’s expertise. This collaboration will ultimately ensure businesses are able to access the finance, the data, and the tools they need in order to meet their customers’ needs worldwide.”