PrimeRevenue, a provider of technology-enabled working capital solutions, and IFS Capital entered a partnership designed to address the trade finance needs of large and middle-market companies in Southeast Asia.
Supply chain finance is a proven working capital solution that effectively addresses much of the friction faced by micro, small and medium enterprises (MSMEs) in accessing fit-for-purpose financing. This solution, which is initiated by buyers to provide suppliers alternative financing options for their invoices, provides suppliers access to competitively priced financing and the opportunity to shorten their cash conversion cycles. In return, buyers can optimize their cash flow through favorable payment terms and stronger relationships with their suppliers.
“We are excited about our collaboration with IFS Capital, which will deliver supply chain financing solutions to the Southeast Asian MSME market,” Dominic Capolongo, executive vice president and global head of funding for PrimeRevenue, said. “This partnership accentuates our belief that supply chain finance brings powerful benefits to MSMEs. Our platform is purpose built to cater not only to large scale players but also smaller companies with a strong need for working capital solutions.”
“The IFS Capital-PrimeRevenue partnership is a timely one to address the supply chain issues we are facing today,” Zeng Renchun, Singapore country head at IFS Capital, said. “PrimeRevenue is a global leader in trade finance technology, and its best in-class platform supports large MNCs and midmarket companies on supply chain financing programs globally. This, coupled with our expertise and deep understanding of MSME financing needs in the region, will help MSMEs gain access to capital and unlock cash trapped in the supply chain.”
Under the agreement, IFS Capital will offer PrimeRevenue’s platform solutions in its core markets of Singapore, Thailand, Malaysia and Indonesia to support supply chain finance programs anchored by large and middle-market corporations. IFS Capital will leverage its existing network in the region to onboard buyers and facilitate the adoption of PrimeRevenue’s supply chain finance technology platform. The addition of IFS Capital’s partnership will expand PrimeRevenue’s commitment to serving the needs of MSMEs in the Southeast Asian market.
