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(Alliance News) - Supply@Me Capital PLC on Friday said its subsidiary TradeFlow Capital Management Pte Ltd entered a partnership with Cargoes Finance By DP World.
In response, shares were up 5.6% at 0.13 pence each on Friday afternoon in London.
The London-headquartered fintech platform said the partnership will make TradeFlow's in-transit & warehoused goods monetisation non-credit facility available through Cargoes Finance By DP World.
It will also contribute to Supply@Me Capital's investment advisory revenue stream because DP World's international client base will have "seamless access" to the funds through the platform, it noted.
Cargoes Finance By DP World is a trade finance platform launched by Dubai-based supply chain logistics company DP World in July. It enables access to working capital for small and medium-sized enterprises by connecting them with premier financial institutions worldwide.
TradeFlow is a Singapore-based FinTech-powered commodities trade enabler, also focused on small and medium enterprises.
"I am delighted to announce this important collaboration with Cargoes Finance By DP World. This is a key milestone for the Supply@Me Group. DP World is a world leader in global supply chain solutions and their innovative Cargoes Finance platform will be a game-changer for small and medium-sized enterprises, increasing trade opportunities in countries across the world," Supply@ME Capital Chief Executive Alessandro Zamboni said.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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