DP World, the leading global logistics company and provider of smart supply chain solutions, today announced a partnership between CARGOES Finance By DP World and MODIFI, the global trade financing platform for SMEs, to facilitate rapid and seamless access to working capital for emerging-market small and medium-sized enterprises.
CARGOES Finance By DP World is a fintech platform that brings together global importers, exporters and logistics companies in need of financing from around the world with financial institutions. CARGOES Finance provide lenders with access to data on cargo movements, enabling them to lend with confidence.
DP World customers with cargo and shipping requests will now be able to take advantage of MODIFI’s products for both importers and exporters via its unified digital cockpit – to help manage their cash flow and invest in business growth. MODIFI is the only digital trade finance platform for SMEs that spans across the three major trading regions of Europe, Asia and North America, providing SMEs with simple digital solutions to finance and manage their trades, protect them from counterparty risk, and easily track their shipments.
Sinan Ozcan, Senior Executive Officer, DP World Financial Services Limited said: “This partnership with MODIFI marks another step in our mission to help bridge the ongoing global trade finance gap. The CARGOES Finance platform now expands to all major trading regions, enabling us to help more SMEs and provide further access to working capital solutions”.
Mike Bhaskaran, COO for Logistics & Technology, DP World said: “We strive to provide new solutions for our customers that not only add value to the service we provide, but also help to digitise the trade ecosystem and enable smarter trade across all markets. Our partnership with MODIFI will see us make progress on this mission, and further develop the offering of the CARGOES Finance platform for our SME customers.”
Nelson Holzner, CEO of MODIFI, said: “We’re delighted to announce this strategic partnership with CARGOES Finance By DP World. With global trade witnessing significant disruption during the COVID-19 pandemic, finance and payments are playing a vital role in reducing the impact of disruption on SMEs. Our partnership with DP World will deliver huge value across the supply chain by unifying our fintech platforms and allowing us to leverage each other’s expertise. This collaboration will ultimately ensure SMEs are able to access the finance, the data, and the tools they need in order to meet their customers’ needs worldwide.”
