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Lenvi, one of the leading lending software and solutions provider, has announced 19 per cent revenue growth in its first year of operations.The 12 month growth was driven by securing 25 new customers, and covering £90bn in assets.
14/05/2024
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Global credit insurer Coface has launched EasyLiner, a trade credit insurance product for SMEs in New Zealand, aiming to address the sector's needs, representing 97 per cent of the country's economy. David Meys, Coface's commercial director, highlighted the impact of bad debts on SMEs, totaling about NZ$2bn annually. Despite growing awareness of buyer default risks, SMEs still need credit terms to stay competitive.
14/05/2024
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Investment firm Avenue Capital Group has concluded fundraising for the Avenue Europe Special Situations Fund V (Avenue Europe Fund), amassing over US$1bn in commitments. The fund, along with separately managed accounts, has garnered support from a diverse investor base comprising public and corporate pension plans, sovereign wealth funds, asset managers, and family offices.
13/05/2024
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Grant Thornton expects to earn £46m in fees for managing the administration of Greensill Capital, as reported by the Financial Times. This makes it one of the costliest UK insolvency processes in recent times. The accounting firm projects an additional £8.5m in fees by March 2025, bringing the total to £45.6m over four years. The complexity of unwinding Greensill Capital underscores the substantial fees involved.
13/05/2024
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Standard Chartered announced the appointment of three new additions to its Transaction Banking global leadership team – Mahesh Kini as Global Head of Cash Management, Mark Troutman as Global Head of Transaction Banking Corporate Sales, Dhiraj Rajan Bajaj as Global Head of Transaction Banking Financial Institutions Sales.
13/05/2024
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According to Reuters, documents released on Tuesday reveal that former British Prime Minister David Cameron extensively lobbied senior ministers in 2020 for Greensill Capital, a now-defunct supply-chain finance firm. His efforts to secure access to government pandemic funding have raised concerns about lobbyist influence on decision-making.
13/05/2024
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In a notable effort to enhance Nigeria’s private healthcare sector and fortify its economic robustness, the United States government has unveiled a fresh partnership pact with First City Monument Bank (FCMB). This collaborative endeavour aims to unleash a US$10m loan facility to amplify financial access for pivotal sectors in Nigeria.
13/05/2024
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dancerace, one of the leading international software providers for the invoice finance industry, has announced a launch of its revolutionary r3 RiskOps system.
13/05/2024
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Beltone Holding ("Beltone"), one of the fastest-growing financial institutions, announces that its wholly-owned subsidiary, Beltone Leasing and Factoring, has signed a sale and leaseback agreement and factoring facility totaling EGP400m (US$8.5m) with IL Cazar for Urban Development ("the Company"), a leading real estate development company in Egypt.
13/05/2024
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Sallyport Commercial Finance (Sallyport) has announced a groundbreaking US$10m in accounts receivable finance for a prominent pharmaceutical company – Shield Therapeutics Inc. This financing marks a pivotal moment for the organisation, which is fervently navigating its commercialisation journey in North America amidst soaring sales figures.
10/05/2024
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Basware, a global leader in AP automation and invoice processing, has announced that it has acquired AP Matching.The acquisition will expand Basware's market offering, bringing accurate financial data and increased cost savings to the entire invoice processing cycle. It will go beyond traditional AP (accounts payable) automation and solve a critical pain point for finance and accounting teams: ensuring the accuracy of financial records through automated statement reconciliation.
10/05/2024
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Trafigura Securitisation Finance Plc (TSF), a receivables securitisation vehicle of Trafigura Group Pte Ltd (Trafigura), has successfully priced a new series of notes (TSF 2024-1) on the 144A/RegS asset-backed securities (ABS) market.
10/05/2024
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Commenting on stagnant interest rates in the UK, Owen Bassett, insolvency and retail expert at Atradius UK, says:“Following the news that interest rates have remained stagnant at 5.25 per cent[1] for the sixth consecutive month, retailers cannot afford for the Bank of England to hold the interest rate for much longer.
10/05/2024
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Alraedah Digital Solutions, a leading technology company, is announcing a strategic partnership with ABHI, a fintech specialising in invoice factoring and earned wage access. The collaboration marks a significant milestone in Alraedah's commitment to fostering innovation and driving regional financial inclusion.
09/05/2024
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WhiteHawk Capital Partners, LP (WhiteHawk), a private credit investment manager focused on asset-based financing solutions, announced it has entered into an agreement with C3 Rentals, Inc. (C3 Rentals) to provide a US$100m asset-based loan (ABL) facility. C3 Rentals will use the proceeds of the facility to provide incremental liquidity for continued growth and to refinance existing debt.
09/05/2024
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