EmerioBanque

Modifi Acquires PrimaDollar's Export Trade Finance Business

Recently, PrimaDollar has made a prudent decision to focus only on its category ie. a leading supply chain trade finance technology platform as it has sold all its existing export customers who are SMEs, to Modifi. Modifi is an SME-focused startup that provides necessary aid to businesses in development as well as guides them in maintaining strong relationships on an international level and taking advantage of local economies. Both the companies are mutually agreed on executing the transaction for only future businesses. PrimaDollar is likely to keep its existing outstanding trade finance book.

PrimaDollar is a SaaS technology-based enterprise that allows large and mid-sized importers to control the ways of funding and paying their international exporters. As the platform is showing its expanding achievement with a focused area on bigger clients, the board of the company has got an opinion that their existing export customers which are SMEs will be efficiently served by shifting to one of the devoted export trade finance experts working with the similar geographic impression. After conducting thorough market research, PrimaDollar selected Modifi. The deal of selling PrimaDollar’s export finance business to Modifi has now been finished.   

Modifi is a digital trade finance company which is providing trade finance service to businesses worldwide on a single digital platform. With its offices in Amsterdam, Berlin, New Delhi, Shenzhen, Hong Kong, and Dubai, it is a computerized on-boarding and a paperless platform where the customers can fulfill their working capital requirements within a couple of days. Modifi plays a vital role in paying outstanding invoices of exporters as well as mitigates the associated risks in case if the buyer defaults.

Tim Nicolle, CEO of PrimaDollar stated that “We accept the fact that Modifi is a global digital trade finance company capable of ensuring our export finance clients across South and East Asia will continue to get the outstanding services and a trustworthy source of low-cost liquidity on the side of their global trade. We keep on being energized by the tremendous development open to us in trade finance - potential that has improved substantially at the time of the pandemic. We are extending at a fast pace and expect to be a consistently developing piece of the trade finance scenario.”

Nelson Holzner, CEO, and Co-Founder of Modifi also stated, “Modifi is pleased to take on PrimaDollar’s export trade finance customers in a transaction which is completely lined up with a mission to boost global trade. This is a crucial step for Modifi as it sets up as the main global digital trade finance platform aiding small and medium-sized exporters and importers. In the coming few weeks, we will be striving efficiently to guarantee smooth progress and give our great services to aid their development. ”


Source

https://www.finextra.com/pressarticle/86298/modifi-acquires-primadollars-export-trade-finance-business






Other news

Exchange Rates

Currency Buy Sell
EUR USD 1.06 1.10
EUR GBP 0.86 0.89
EUR CHF 1.02 1.06
EUR AUD 1.72 1.70
EUR JPY 116.08 116.56
EUR MYR 4.50 4.77
EUR SGD 1.53 1.57
EUR HKD 8.27 8.53
EUR CAD 1.54 53.84
EUR DKK 9.75 1.55

Most Recent Blogs View All Blogs

12 May

Top Ways Fintech Industry Is Getting Transformed Through Blockchain

If you are a businessman who is indulged in any kind of trade ie. import-export activity, you might ...

10 May

Fintechs Are Proving To Be A Boon For Small Exporters

Since the global pandemic of Covid-19 hit the world economy, the global traders have gone into deep ...

25 Apr

Letter of Credit Issuance Process - An Important Trade Finance Instrument

Looking for a letter of credit? This guide covers what an LC is, how it works & its process. Rea...

Disclaimer

Emerio Banque is an innovative global financial institution incorporated in England and Wales with Legal Entity Identifier 875500DGPPWAFABBK130. Emerio Banque does not offer its products and services to businesses and/or persons registered in the United Kingdom.

No information on this website should be construed as a solicitation, offer, recommendation, and representation of suitability or endorsement of any security, investment or strategy.

Important Notice

Emerio Banque would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services offered by us or any intermediary bearing similar names. You should verify with Emerio Banque by calling our Customer Service Number on +44 203 059 7831 or emailing help@emeriobanque.com

Please also be aware of bogus SMS messages and voice message calls or fraudsters who impersonate the staff of Emerio Banque.

We have recently become aware of a number of entities with different names misrepresenting themselves as associates, partners or agents of Emerio Banque.

Please be informed that Emerio Banque is not associated with nor do we have any business connections or dealings with such institutions.

Emerio Banque takes all information regarding suspicious fraudulent activity very seriously. Please immediately inform us at compliance@emeriobanque.com if you suspect or are approached by persons misrepresenting or impersonating Emerio Banque and/or its officials. We will make investigations and will take legal action where necessary.