Supply@ME Capital PLC (LON:SYME) confirmed details about its acquisition of a leading fintech-powered commodities trade enabler, focused on SMEs.
Heads of terms have been signed with Singapore-based TradeFlow Capital Management Pte Ltd, the company confirmed today, following an initial announcement on Wednesday and subsequent market speculation regarding the identity of the target business.
Supply@ME said it expects to announce a further update within the next month.
It said the acquisition will give its platform the ability to offer commodities "in-transit" and is expected to generate a number of attractive synergy benefits for the company in terms of funding and customer origination.
The Supply@ME platform enables businesses to generate cashflow, without incurring debt, by monetising their existing stock before an end-customer has been found for the inventory.