Apollo winds down Eliant receivables and supply chain finance products

Apollo Global Management is winding down Eliant Trade Finance’s mid-market accounts receivable and supply chain finance products while retaining the platform’s core inventory-finance business, according to a Bloomberg report citing people familiar with the decision.

The products being discontinued account for less than 10% of Eliant’s total assets, according to the report. The move therefore represents a targeted contraction rather than an exit from trade or working-capital finance, but it removes two products sitting directly within the receivables and supplier-liquidity markets.

Eliant’s accounts receivable product purchases receivables to accelerate sellers’ cash flow and reduce their exposure to customer credit risk. Its supply chain finance offering provides liquidity through the order-to-cash cycle, allowing suppliers to receive funds sooner while buyers can extend payment terms.

The platform’s website continued to advertise both services at publication, suggesting that the reported wind-down is still being implemented rather than already completed.

Apollo, Athene and BNP Paribas established Eliant in 2022, initially as an inventory-finance platform designed to help corporates improve working-capital efficiency without carrying as much stock on their own balance sheets. It launched with US$1.3bn of signed or awarded inventory programmes.

BNP Paribas provides debt and receivables financing as well as structuring services to Eliant, while Athora is identified by the platform as a strategic funding partner to its accounts receivable and supply chain finance business. Eliant said it completed US$1.6bn of new transactions globally across inventory, receivables and supply chain finance during 2025.

The reported retrenchment therefore narrows a platform that had expanded beyond its original inventory focus.

Importantly, there is no indication that Apollo is shutting Eliant itself. Inventory finance remains the core business, with capital provided against companies’ stock and supply-chain assets.

The decision may indicate a preference for concentrating capital around Eliant’s original inventory proposition after a difficult period for the market, although Apollo has not publicly disclosed the financial performance of the products being discontinued. The value of receivables being run off, affected customers, timetable and any credit losses were not disclosed.