Supply@ME Capital PLC (LSE:SYME) has welcomed the full implementation of the new 'pegno non possessorio' (PNP) regulation in Italy which introduces the concept of "security interest" into Italian law, allowing businesses easier access to financing without the need to sell or dispose of their assets.
The fintech company specialising in Inventory Monetisation solutions noted that the PNP regulation enables businesses to create a non-possessory pledge on movable assets, such as raw materials and machinery, without granting possession to the creditor. This recognition of continuing asset use during the production process resembles a floating charge under English law.
To facilitate the registration and management of pledges, the Italian Revenue Agency will operate a digital ledger, streamlining operations related to pledges. This digital system enables swift and electronic registration, consultation, modification, renewal, and cancellation of pledges.
The implementation of the PNP Regulation aligns with the company's strategic plans outlined in its year-end business update. The company expects Italian banks to adopt their platform through white-label agreements, providing greater opportunities for collaboration. Additionally, the improved legal enforceability of guarantees over inventory will attract traditional Inventory Funders to invest in Inventory Monetisation transactions using the Supply@ME Platform.
In a statement, Alessandro Zamboni, CEO of SYME, expressed enthusiasm for the legislation, commenting: "The Pegno Non Possessorio legislation provides greater security for funders seeking to monetise or finance inventories in Italy. Its long-awaited implementation allows for much-needed working capital solutions for businesses. It also strengthens our proposition as inventory scientists, particularly for traditional funders."
Zamboni pointed out that Supply@ME has been proactive in leveraging the legislation, becoming the first player in the market to execute an inventory monetisation transaction under the new regulations.
Additionally, the company continues to collaborate closely with financial institutions, aiming to establish high-scalable white-label and self-funding partnerships.
With the PNP Regulation now in effect, businesses in Italy can benefit from improved access to financing options while retaining their valuable assets, Supply@ME Capital said.