Fintech MODIFI on Wednesday announced $ 145 million in debt financing with existing banking partners Silicon Valley Bank and Solarisbank.
“The funds will be used to meet growing demand and help more small and medium-sized businesses do business internationally on MODIFI’s digital platform,” he said in a statement.
MODIFI is a digital trade finance platform for SMEs that covers the three main trading regions of Europe, Asia and North America. It offers SMEs simple digital solutions to finance and manage their transactions, protect them from counterparty risk and easily track their shipments.
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“MODIFI quadrupled its business year over year in 2021 with India remaining the largest market and therefore we would like to support our exporting clients in India against such financial risks and deepen trust and reliability with our parties Indian stakeholders, ”said Nelson Holzner, CEO and Co-Founder, MODIFI.
The company had already increased its Series B tour in September. It is currently working on major upgrades to its digital platform, which will expand the product offering beyond trade finance and allow MODIFI customers to support all trade related activities in one place. , the statement added.