MODIFI, a global B2B Buy Now, Pay Later (BNPL) solutions platform, announced the completion of a $15 million project funding round led by SMBC Asia Rising Fund.
The round also saw participation from existing investors Maersk, IntesaSanPaolo, Heliad and other leading global investors.
Sumitomo Mitsui Banking Corporation (SMBC), one of Japan’s leading banks and a major financial force in the APAC region, brings both capital and strategic alignment to the partnership.
Signing of a memorandum of understanding with SMBC
In addition to this investment, MODIFI and SMBC signed a Memorandum of Understanding (MoU) to jointly promote digital solutions that help SME exporters across Asia expand their international business operations.
Through a series of joint initiatives, MODIFI and SMBC aim to equip SMEs with innovative cross-border financing solutions.
What does MODIFI do?
Founded in 2018, MODIFI provides industry-leading tools that optimize working capital and streamline cross-border payments. Through its extensive global network, the company claims to provide fast, flexible and secure financial solutions, helping businesses expand their international presence.
MODIFI claims to have facilitated over $3 billion in global trade for over 1,800 businesses. The platform offers instant working capital approval, as well as built-in risk management tools that protect businesses against payment defaults and buyer fraud.
Fundraising goal
MODIFI plans to use the capital raised to accelerate its expansion, particularly in high-growth markets like China and India.
“This financing underscores the strength of our company 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 enable businesses to grow and succeed across borders. »
“Our mission is simple: we empower SMEs to compete and thrive in the global marketplace with fast, flexible and secure payment solutions. With this new financing, we are ready to redefine global trade finance, ensuring that businesses of all sizes can unlock the liquidity and get the protection they need to grow internationally,” added Holzner.
“By transforming cross-border supply chain finance for the digital age through their global presence, we believe MODIFI helps SMEs easily grow their export businesses. We look forward to collaborating with MODIFI to enable our enterprise customers to grow their businesses globally with agility. and financial flexibility to overcome traditional business barriers,” said Keiji Matsunaga, general manager of SMBC’s digital strategy department.