Supply@ME Capital plc (LSE:SYME) said “progress has been made on a number of fronts” as it provided an end-of-year update on activities.
The alternative finance specialist said it is working to complete the signing of a binding agreement with its first funder for the previously flagged inaugural Italian inventory monetisation transaction.
“The process is progressing well, and the parties are finalising the arrangements,” investors were told.
The transaction now won’t involve taking a stake in the fintech bank it is negotiating with.
In the UK, Supply@ME said it has “generated significant awareness among potential client companies and inventory funders". In fact, it is currently in discussion with more than ten potential investors and asset-based lenders interested in arranging and funding inventory monetisation transactions, investors were told.
Finally, the company said its Trade Flow business, an inventory monetisation platform it bought in July, is on target to make above-target returns from in-transit cargo transactions.
SYME chief executive Alessandro Zamboni said: "2021 has been a transformational year. The group has made tremendous progress since December last year and we should be proud of what we have created.
“Supply@ME is a unique equity story that is attracting a lot of interest from investors, lenders and strategic partners across the globe.
“The standard setters and regulators are working as well to support the alternative capital market industry and the company will benefit from that in 2022.
“Now that market conditions seem more settled, we expect an acceleration of revenue, aimed at rewarding the commitment and trust of all our shareholders and key stakeholders."
For the full announcement, click here