Last checked at 4 Sep 2020 07:00
4 September 2020
Supply@Me Capital plc
(The "Company", "SYME" or "Supply@Me")
Supply@Me signs business alliance with leading SME Italian fintech marketplace
Supply@ME Capital plc, the innovative fintech platform which provides inventory monetisation services to European manufacturing and trading companies, is pleased to announce that it has signed a formal business alliance with Epic SIM ("Epic") for inventory funding and client company origination.
Epic is an investment company (known as a SIM in Italy) which is regulated by Consob (the Italian Securities Commission) and the Bank of Italy and is authorised in France, UK, Germany, Spain, Finland, Sweden and Luxembourg.
Epic's Chairman and founder, Guidi Ferrarini, is a founder and former director of the European Corporate Governance Institute, Brussels. He was also a trustee of the International Accounting Standards Committee, London, and an independent director at a number of Italian blue-chip companies including Telecom Italia and Telecom Italia Mobile. He was previously an advisor to the Draghi Commission on Financial Markets Law Reform, to Consob and to the Corporate Governance Committee of the Italian Stock Exchange
Epic's Chief Executive, Andrea Crovetto, is Chair of ItaliaFintech, which brings together leading Fintech businesses operating in Italy, and has held Chief Executive roles at several leading European banks including Banca IMI Intesa Sanpaolo, and Tradinglab Banca a division of Unicredit Bank.
Epic is a leading fintech platform for working capital solutions, enabling small and medium-sized enterprise (SMEs) to present their development projects - including the inventory monetisation® service - to a selected audience of qualified investors.
The alliance between Supply@Me and Epic will create a new sales channel for the Company, including:
- client company origination, sourced as companies come to the Epic fintech platform, and,
- inventory funding.
In addition, Epic will perform part of the due diligence process in order to increase the scalability and efficiency (time to delivery) of SYME's onboarding process, contributing to the achievement of the Company's short and long-term commercial objectives.
The business alliance targets 75 Client companies originated by the end of 2020 and 250 during 2021.
Alessandro Zamboni commented "we are pleased to announce this cooperation with the leading SME Italian fintech marketplace. Epic is more than an Intermediary or a Bank. By virtue of the standing and reputation of its management, Epic builds a unique digital environment where investors can find new asset classes and SMEs can raise capital through alternative solutions. This is a great place for us to deliver our inventory monetisation service"
Supply@ME has reached a new milestone in relation to its business plan goals and the strategic pillars related to the development of a multi-channel funding strategy and the scalability of its inventory monetisation services.
The Company expects to make further announcements shortly in relation to the inventory funding process and client companies origination within the SYME hubs of Italy, the UK, the Middle-East and the US (where a feasibility study has recently commenced).
Notes
Supply@ME enables businesses to generate cashflow, without incurring debt, by monetising their existing stock. Before a business has found an end-customer for its inventory, the Supply@ME platform enables them to sell ("monetise") their stock and receive cash immediately to boost their working capital. The Supply@Me service enables strong companies to improve their working capital cycle. SYME does not monetise inventory for companies in financial difficulty or with inventory that they are struggling to sell.
Contacts
Alessandro Zamboni, CEO, Supply@ME Capital plc, investors@supplymecapital.com
Paul Vann, Walbrook PR Limited: +44 (0)20 7933 8780
Brian Norris, Cicero/AMO, +44 (0)20 7947 5317