Tradeflow partnership with DP World

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© 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, [e-mail]

Paul Vann, Walbrook PR Limited, [phone];  [e-mail]

Brian Norris, Cicero/AMO, [phone] [e-mail]

 

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