RE: Italian article27 Sep 2022 12:12
In parallel, Supply@ME is working on other Inventory Monetisation transactions with institutional players belonging to traditional finance as well as studying forms of cooperation with specific financial intermediaries so that they can use the Supply@ME Platform for specific business initiatives.
Alessandro Zamboni, ceo of Supply@ME, said, "We are thrilled to have carried out the first Inventory Monetisation. The technicality and innovation brought by our service are truly unique in the market and we are pleased to support our client company in this new way of inventory management. We are aware that the complexity of the model has taken longer than expected, but I think this first operation will help our investor audience, typically part of traditional finance, to understand, in detail, the features of the service and to recognize, definitely, its feasibility. Through this first operation, we expect the further opportunity to co-design new inventory-based solutions, together with specific partners in the financial industry. Finally, we are confident that VeChain, a unique organization in the field of sustainability and supply chain support, will increase confidence in the use of blockchain on real business cases and create the basis to start using Decentralized Finance* protocols, combined with our Inventory Monetisation service, to support global supply chains and, more broadly, the real economy."
As for the plan to buy a bank (see other BeBeez article) according to what BeBeez has gathered, it seems that the "captive bank" project (which is being followed directly by the AvantGarde Group, Supply@ME's current main shareholder) is still in progress. Also in light of the investment fund launch operation (and some potential agreements with global asset managers) the company would be considering the role of a potential bank (which could play several roles: custodian, senior abs sosttowriter, manager of commercial accounts with companies, insurance intermediary of corporate policies).
In October 2020, it was indeed said that Supply@ME Capital would soon have a new funding channel, complementing securitizations underwritten by third-party institutional investors and customers' originator banks (see other BeBeez article). Supply@MeCapital had in fact announced that its co-investing controlling shareholders with an alternative fund intended to buy a bank in Europe, which could then serve as an investor in all the securitizations that Supply@Me would gradually bring to market (see press release here). Specifically, the bank would commit to provide up to 8 billion euros over five years to support all of Supply@Me's international initiatives, which is expanding operations from Italy to the UK and the Middle East, and then on to the US. To this end, the fund has pledged to recapitalize the bank once it has received regulatory approval for the purchase.
As a reminder, Supply@Me Capital sees as its first shareholder at 23.8 percent The Avantgarde