Mumbai, 6th November 2024 — MODIFI, a leader in cross-border B2B Buy Now, Pay Later (BNPL) solutions, has raised $15 million in a strategic funding round led by SMBC Asia Rising Fund, supported by global investors including Maersk, IntesaSanPaolo, Heliad, and other prominent stakeholders. The investment marks a pivotal moment in MODIFI’s mission to drive Asian SME exports by enhancing its cross-border payments and trade finance solutions across Asia, particularly in high-growth markets like China and India.
Sumitomo Mitsui Banking Corporation (SMBC), a top financial institution in Japan and the APAC region, not only leads this funding but also brings a strategic partnership, aligning closely with MODIFI’s goals. Alongside the investment, MODIFI and SMBC have entered a Memorandum of Understanding (MoU) to collaborate on digital financing solutions designed to empower SMEs across Asia in expanding their global trade operations. Through targeted joint initiatives, the partnership aims to deliver cutting-edge cross-border financing solutions, enabling small and medium enterprises to optimize their cash flow and expand international reach.
This announcement, made during the Singapore Fintech Festival, highlights MODIFI’s commitment to innovation in the global fintech space. The fresh infusion of capital will accelerate MODIFI’s expansion in Asia’s booming markets, offering critical liquidity and flexible payment options to SMEs. With MODIFI’s solutions, companies can better manage their finances and navigate the complexities of global trade, unlocking new growth opportunities in international markets.
“The funding underscores the strength of our business and the confidence our investors have in our vision for the future,” said Nelson Holzner, CEO and Co-founder of MODIFI. “As global commerce evolves, MODIFI is at the forefront, providing innovative solutions that empower businesses to scale and succeed across borders.”
Expanding Access to Global Trade for SMEs
Since its founding in 2018, MODIFI has quickly established itself as a leading platform in cross-border payments and trade finance. Named one of the Fastest Growing European Fintech Companies in 2024 by Financial Times and Statista, MODIFI has facilitated over $3 billion in global trade for more than 1,800 companies worldwide. The platform provides SMEs with instant working capital approval and integrated risk management tools, effectively shielding businesses from buyer defaults and fraud.
With the growing demand for cross-border BNPL solutions, MODIFI’s technology addresses the unique financial needs of SMEs, enabling them to overcome traditional trade barriers and navigate complex global supply chains.
“Our mission is simple: We empower SMEs to compete and thrive in the global market with fast, flexible, and secure payment solutions,” added Holzner. “With this fresh funding, we’re set to redefine global trade finance—ensuring businesses of all sizes can unlock the liquidity and get the protection they need to grow internationally.”
Strategic Partnership with SMBC
SMBC’s involvement strengthens MODIFI’s position in the Asian market. Keiji Matsunaga, General Manager of Digital Strategy at SMBC, expressed his optimism for the collaboration: “By transforming cross-border supply chain finance for the digital age with their global presence, we believe MODIFI supports SMEs to scale their export businesses with ease. We look forward to collaborating with MODIFI to empower our corporate clients to expand their businesses globally with agility and financial flexibility.”
About MODIFI and SMBC Asia Rising Fund
MODIFI operates in over 55 countries, offering fast, flexible, and secure BNPL solutions for B2B transactions, with a mission to optimize working capital and streamline cross-border payments. Its platform integrates advanced risk management, ensuring businesses can expand internationally with confidence.
SMBC Asia Rising Fund, co-founded by SMBC and Incubate Fund, accelerates business development across Asia by investing in high-potential startups. Through its investments, SMBC drives innovation and enhances client offerings by uncovering new technologies and developing forward-looking business models.
With this funding round and partnership, MODIFI is set to empower a new wave of SMEs across Asia to expand their export capabilities and access new markets, reinforcing its commitment to redefining global trade finance for a rapidly evolving world.
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