MODIFI Raises USD 15 Mn For Cross Boarder Financing
Date
11/8/2024 2:11:05 PM
(MENAFN- KNN India)
New Delhi, Nov 8 (KNN) MODIFI, a fintech company focused on B2B Buy Now, Pay Later solutions, has received a USD 15 million strategic investment from the SMBC Asia Rising Fund, marking a significant expansion in its cross-border financing capabilities.
The investment, which includes participation from existing backers Maersk, Intesa Sanpaolo, and Heliad, will target growth opportunities for small and medium-sized enterprises across Asia, with particular emphasis on the Chinese and Indian markets.
"This 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," he added.
The partnership extends beyond the investment, as MODIFI and SMBC have entered into a Memorandum of Understanding to develop digital solutions jointly.
This collaboration aims to strengthen support for SME exporters throughout Asia by addressing traditional trade barriers.
"By transforming cross-border supply chain finance for the digital age, we believe MODIFI supports SMEs to scale their export businesses with ease," said Keiji Matsunaga, General Manager of Digital Strategy at SMBC.
He highlighted, "We look forward to collaborating with MODIFI to empower our corporate clients to expand their businesses globally with agility and financial flexibility."
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