Supply @ME Capital PLC Tradeflow partnership with DP World (1158C)
February 18 2022 - 2:00AM
UK Regulatory
TIDMSYME
RNS Number : 1158C
Supply @ME Capital PLC
18 February 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION
IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
18 February 2022
Supply@ME Capital plc
(The "Company" or "SYME")
TradeFlow partners with Cargoes Finance By DP World
Supply@ME Capital plc, the innovative fintech platform which
provides the Inventory Monetisation(c) service to manufacturing and
trading companies, announces that TradeFlow Capital Management Pte
Ltd ("TradeFlow"), part of the Supply@Me Group, has partnered with
Cargoes Finance By DP World.
DP World is a leading provider of worldwide smart end-to-end
supply chain logistics, enabling the flow of trade across the
globe. Its comprehensive range of products and services covers
every link of the integrated supply chain - from maritime and
inland terminals to marine services and industrial parks as well as
technology-driven customer solutions. It delivers these services
through an interconnected global network of 190 business units in
69 countries across six continents, with a significant presence
both in high-growth and mature markets.
This partnership will make the TradeFlow in-transit &
warehoused goods monetisation non-credit facility available via
CARGOES Finance By DP World, a trade finance platform launched by
DP World in July 2021. CARGOES Finance By DP World is a fintech
platform which enables access to working capital for small and
medium-sized enterprises (SMEs) by connecting them with premier
financial institutions worldwide.
Specifically, the partnership with CARGOES Finance By DP World
will contribute to the Supply@Me Group's Investment Advisory
revenue stream as defined in the RNS issued by the Company on 31
August 2021. Through the CARGOES Finance platform , DP World's
international client base will have seamless access to the
Funds.
SYME Chief Executive, Alessandro Zamboni, said: "I am delighted
to announce this important collaboration with CARGOES Finance By DP
World. This is a key milestone for the Supply@Me 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."
TradeFlow Chief Executive and SYME executive director, Tom
James, said: "We are proud to become a partner of CARGOES Finance
By DP World and are confident that its client base will quickly see
the benefit of our Funds. We would hope this agreement is the first
of many with DP World, which could see the Supply@Me Group become a
first-choice option for many users of the CARGOES Finance Platform.
This partnership also represents a key development for the
Supply@Me Group's offering in the MENA region, further
strengthening our relationship and proposition, alongside the
Shariah Fund' initiative and the strategic alliance with iMass
investments"
Sinan Ozcan, Senior Executive Officer, DP World Financials
Services Limited, said: "I am pleased to confirm that TradeFlow,
and by extension the Supply@Me Group, has partnered with CARGOES
Finance By DP World and joined us in our mission to bridge the
trade finance gap. Our two organisations share an entrepreneurial
spirit and the common goal of supporting SMEs achieve their own
ambitions through innovative finance solutions. I look forward to a
fruitful relationship with Supply@ME Group, and exploring the
different ways we can extend access to its Funds for the benefit of
our clients."
Notes
Supply@ME Capital PLC and its operating subsidiaries (together
the "Supply@Me Group") provide an innovative fintech platform (the
"Platform") for use by manufacturing and trading companies to
access inventory trade solutions enabling their businesses to
generate cashflow, via a non-credit approach and without incurring
debt. This is achieved by their existing eligible inventory being
added to the Platform and then monetised via purchase by third
party Inventory Funders. The inventory to be monetised can include
warehouse goods waiting to be sold to end-customers or
goods/commodities that are part of a typical import/export
transaction. SYME announced in August 2021 the launch of a Global
Inventory Monetisation programme which will be focused on both
inventory in transit monetisation and warehouse goods monetisation.
This programme will be focused on creditworthy companies and not
those in distress or otherwise seeking to monetise illiquid
inventories.
Financial services offered on the CARGOES Finance Platform are
associated with CARGOES By DP World (A suite of enterprise services
and products for the world of logistics and trade) and provided by
DP World Financial Services Limited. DP World Financial Services
Limited is a company registered under the Dubai International
Financial Centre (DIFC) and regulated by Dubai Financial Services
Authority (DFSA).
Contacts
Alessandro Zamboni, CEO, Supply@ME Capital plc,
investors@supplymecapital.com
Paul Vann, Walbrook PR Limited, +44 (0)20 7933 8780;
paul.vann@walbrookpr.com
Brian Norris, Cicero/AMO, +44 (0)20 7947 5317
brian.norris@cicero-group.com
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