Fintech leader strengthens position in cross-border B2B payments and trade finance, eyeing rapid growth across Asia, including China and India.
Mumbai,
6th November 2024 -- MODIFI, a leading global platform
in B2B Buy Now, Pay Later (BNPL) solutions, today announced the successful
completion of a $15 million funding round led by SMBC Asia Rising Fund with
participation from existing investors Maersk, IntesaSanPaolo, Heliad and other
top-tier global investors. Sumitomo Mitsui Banking Corporation (SMBC), one of Japan’s leading banks and
a major financial force in the APAC region, brings both capital and strategic
alignment to the partnership. Beyond the equity investment, MODIFI and SMBC
have signed a Memorandum of Understanding (MoU) to jointly advance digital
solutions that support SME exporters across Asia in expanding their
international trade operations. Through a series of joint initiatives, MODIFI
and SMBC aim to empower SMEs with innovative cross-border financing solutions.
The announcement comes on the sidelines of
Singapore Fintech Festival, showcasing MODIFI's drive for innovation in the
global fintech landscape. This new capital infusion will accelerate MODIFI's
expansion, particularly in high-growth markets like China and India, where the
company has already made significant inroads. MODIFI’s platform delivers
critical liquidity and flexible payment terms to small and medium-sized
enterprises (SMEs), helping them optimize cash flow and expand their
international reach.
"The funding underscores the strength of
our business and the confidence our investors have in our vision for the
future," said Nelson Holzner, CEO
and Co-founder of MODIFI. "As global commerce evolves, MODIFI is at
the forefront, providing innovative solutions that empower businesses to scale
and succeed across borders."
MODIFI's exponential growth has solidified its position as
a market leader in cross-border payments and trade finance. Recognized by
Financial Times and Statista as one of the Fastest
Growing European Fintech Companies in 2024, MODIFI has facilitated over $3
billion in global trade for more than 1,800 companies since it was founded in
2018. The platform offers instant working capital approval, alongside
integrated risk management tools that shield businesses from buyer defaults and
fraud.
"Our mission is simple: We empower SMEs to compete
and thrive in the global market with fast, flexible, and secure payment
solutions," added Holzner.
"With this fresh funding, we’re set to redefine global trade
finance—ensuring businesses of all sizes can unlock the liquidity and get the
protection they need to grow internationally."
"By transforming cross-border supply chain
finance for the digital age with their global presence, we believe MODIFI
supports SMEs to scale their export businesses with ease. We look forward to
collaborating with MODIFI to empower our corporate clients to expand their
businesses globally with agility and financial flexibility overcoming
traditional trade barriers.”, said Keiji
Matsunaga, General Manager of Digital Strategy Department, SMBC.
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About
MODIFI
MODIFI is redefining global trade finance as a
leader in B2B Buy Now, Pay Later (BNPL) solutions. Trusted by businesses across
55+ countries, MODIFI provides cutting-edge tools that optimize working capital
and streamline cross-border payments. Through its extensive global network,
MODIFI delivers fast, flexible, and secure financial solutions, helping
companies expand their international footprint with ease. By integrating
advanced risk management features and seamless payment processes, MODIFI is
setting new benchmarks in global commerce, empowering businesses of all sizes
to thrive in a rapidly evolving market.
About
SMBC and SMBC Asia Rising Fund
SMBC, one of the leading banks in Japan,
co-funded SMBC Asia Rising Fund with Incubate Fund which is a corporate venture
capital fund, for the purpose of accelerating business development and
partnerships through investments in high potential start-ups operating actively in Asia. Through this fund, SMBC Group will enhance its business and provide
clients with new solutions by uncovering/ applying new technologies via
partnerships with investee firms and the development of new business models and
products.
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