Supply@ME Capital plc (LSE:SYME) said its TradeFlow good monetisation facility will be made available via the trade finance platform offered by global supply chain specialist DP World, as part of a new partnership.
A provider of worldwide end-to-end supply chain logistics, DP World launched its Cargoes Finance trade finance platform in July 2021 to enable access to working capital for small and medium-sized enterprises (SMEs) by connecting them with premier financial institutions worldwide.
DP World delivers its services through a network of 190 business units in 69 countries, Supply@Me said, with a significant presence both in high-growth and mature markets.
This partnership will make the TradeFlow in-transit and warehoused goods monetisation non-credit facility available under the ‘Cargoes Finance By DP World’ product.
Supply@Me said the partnership will contribute to its investment advisory revenue stream, with DP World's international client base given “seamless access” to the funds.
Chief executive Alessandro Zamboni said it was an “important collaboration” and “a key milestone” for the group.
“DP World is a world leader in global supply chain solutions and their innovative CARGOES Finance platform will be a game changer for SMEs, increasing trade opportunities in countries across the world," he said.
Tom James, CEO of the TradeFlow business, said it was hoped that this agreement will be “the first of many with DP World”, while adding that the partnership also represents a “key development” for the group's offering in the Middle East & North Africa region, with the Cargoes By DP World product is provided by DP World Financial Services Ltd, which is registered and regulated in Dubai.