SME-focused digital trade finance platform MODIFI has secured $ 145 million in debt financing with existing banking partners Silicon Valley Bank and Solarisbank.
The company says the debt financing will be used to help more small and medium-sized businesses do business internationally on its digital platform.
MODIFI helps SMEs finance and manage their international trade, monitor and manage their shipments and reduce counterparty risk. The start-up aims to make it easier for companies to overcome traditional barriers to entry and develop their activities to stimulate local economies.
The COVID-19 pandemic has had a negative impact on exporting and importing SMEs, MODIFI says, and with increasing global trade and consumer demand, it is becoming increasingly difficult to manage supply chain disruptions. supply.
CEO Nelson Holzner said: “2021 has been a difficult year for SMEs, which have had to contend with logistics challenges and skyrocketing freight rates amid a strong rebound in consumer demand.
“We were able to step in and help our customers get additional liquidity and risk protection, allowing them to fill additional orders and grow their business. “
MODIFI claims to have quadrupled its activity year on year, with India remaining the largest single market.
In September, MODIFI closed a Series B funding round in the amount of 20 million euros.
The fundraising, led by investor Heliad Equity Partners, brought the valuation of fintech to more than 100 million euros.