(Alliance News) - Supply@Me Capital PLC on Friday said there was growth in its client companies' pipeline regarding warehoused goods inventories suitable for monetisation.
Supply@Me is a London-based financial technology platform provider used by manufacturing and trading companies to monetise their inventory. This enables their businesses to generate cashflow, according to Supply@Me.
Shares in Supply@Me were trading flat at 0.06 pence each in London on Friday morning. The stock is down 60% over the past year and down 95% since the middle of 2020.
Supply@Me said its warehoused goods inventories were valued at GBP343.5 million on December 31, up from GBP329.8 million on September 23.
Supply@Me said it remains focused on maintaining growing and converting the pipeline, alongside attracting new inventory funders.
Progress has been made towards securing traditional funding routes in both its European and UK markets, it said.
The company expects new Italian legislation to provider greater opportunities for Italian banks to adopt Supply@Me's platform for use under white-label agreements and further enhance the security available to the inventory funders in traditional IM transactions.
Supply@Me said origination in the UK has continued to grow, with several large ticket opportunities for monetisation.
"As the company continues to build its track-record, this will unlock further client company opportunities," it said in a statement.
Chief Executive Officer Alessandro Zamboni added: "The next key milestones on Supply@Me's horizon are traditional funding-backed IMs in Italy and the UK. These transactions will serve a dual-purpose: to build our track-record for inventory funders; and to support corporates in sectors where we see growth opportunities and the potential to scale to larger inventories."
By Greg Rosenvinge, Alliance News reporter
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Supply@me Cap (SYME)