What it does
[email protected] Capital PLC (LON:SYME) is a fintech firm which runs a platform that allows companies to monetise the stock to special purpose vehicles established by [email protected] allowing, at the same time, companies to keep on consignment the latter stock which can then be sold off to end customers.
The group’s innovative finntech platform puts together funders, through a securitisation scheme. Behind the service, several exponential technologies are managed with the aim of making [email protected] the best fintech inventory data monitoring system.
[email protected] has already clinched more than 900mln euros worth of contracts with companies and signed agreements with cross-border financial partners.
How is it doing
In November, the firm partnered with a European bank and iMass Investments to launch a Shariah-compliant version of its inventory monetisation platform.
The authorisation is scheduled to be completed by the end of December 2020 so the first Shariah-compliant transaction can be settled in the first quarter of 2021.
In October, SYME signed a strategic agreement with Anthony Brown and The Trade Advisory to launch its inventory monetisation platform in the US.
At September-end, the number of client companies on its platform was 142, up from 66 at the end of 2019 and 97 at the time of the company’s July 27 trading update.
The acceleration in the number of corporates ready to be served is a result of the re-opening of activities in Italy after the COVID-19 lockdown restrictions were eased, combined with the positive reaction from client companies to the progress that [email protected] has made with its inventory funding.
Revenues for fiscal 2019/20 will be in the region of £2.3mln.
What the boss says: Alessandro Zamboni, chief executive
"The United States is an enormous potential market for [email protected] Our Platform can play a distinctive role supporting US companies via innovative, scalable transactions."
"Similar facilities have recently been announced by Bank of America and Macy's. This is further evidence that our inventory monetisation platform can really support corporates to manage their working capital more efficiently and continue to grow."
"I'm delighted that Mr Brown and his business, The Trade Advisory, share my vision, and recognise the impact that [email protected] can have in the United States."