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On 21 and 22 March, FCI and The EU Federation for Factoring & Commercial Finance (EUF) hosted the 9th EU Factoring Summit in Vienna, Austria. This ninth Summit provided a unique opportunity for industry leaders to network and address topics that matter to the factoring industry. The programme addressed the latest updates and promoted the impact of the factoring and commercial finance industry in Europe.
22/03/2024
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“Our performance in 2023 is proof that even as change comes thicker and faster, we are able to tread the path between risk and opportunity. 2023 has been a year where we have grown our business and demonstrated the value of the products we offer as a means to navigate the rapidly evolving risk landscape. Indeed, we can only be certain of faster changes in the coming years. We see this as a time to ‘rethink business’.
22/03/2024
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Mr. Fausto Galmarini, a member of the Executive Committee of Assifact, the Italian Factoring Association, has been re-elected as Chairman of the EUF following a vote by the EUF’s Executive Committee, on 21 March 2024. His mandate takes effect immediately for a period of 2 years.
21/03/2024
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Invoicemart, India’s largest Trade Receivables Discounting System (TReDS) platform, has witnessed exponential growth in invoice financing volumes in the last years. The company has just announced it has reached the milestone of INR 10bn (US$120m) invoice financed on their platform, consolidating their first position in TReDS.
21/03/2024
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Following today’s interest rates news, James Burgess (pictured), head of commercial and insolvency expert at Atradius UK, says:“The tide has finally started to turn on the cost-of-living crisis, as inflation surpasses ONS forecasts to drop to its lowest level in two and a half years. This will be hugely promising news for homeowners and buyers reliant on fixed-rate mortgages, who have been the hardest hit by rising costs and had been hoping for interest rates to fall.
21/03/2024
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Australian invoice finance platform, Marmalade, has successfully raised AU$16m in a new funding round led by Blue Stamp Company. The new capital will be used for driving customer growth and further development of its working capital offerings for SMEs.
21/03/2024
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When any of us decide to borrow money, where do we turn for it? Do we ask our friends or family first, or do we seek the loan from a more traditional source like a bank or take an advance from one of our cards or another source?
21/03/2024
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Marco, a Latam trade finance platform for SME exporters, has announced the successful closure of a US$12m Series A funding round.
20/03/2024
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OroCommerce and Allianz Trade have partnered to provide a powerful B2B e-commerce solution with integrated e-commerce credit insurance."We have partnered to combine our strengths – ours with the technical solutions that answer our customers’ needs and pain points, and Allianz Trade bringing its payment intelligence and expertise. We are integrating our two solutions to offer our customers the best B2B e-commerce solution possible, including options in deferred payment which is key for this specific market," said Laurent Desprez, Executive VP and GM Europe at OroCommerce.
20/03/2024
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Finacity Corporation (Finacity), a White Oak company, and Synovus Bank (Synovus) today announced that they have successfully arranged and closed a US$30m receivables-based loan programme for Novaria Holdings LLC (Novaria), a leading manufacturer of specialty aerospace hardware.Finacity acted as the administrator providing structuring and execution support and is responsible for the ongoing programme administration and reporting. Synovus acted as the lender and facility agent.About Novaria
20/03/2024
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More than half (51 per cent) of businesses say they are paid late on average, according to a survey conducted by Taulia, a leading provider of working capital management solutions. Taulia’s global Supplier Sentiment Survey, which has been conducted since 2014 - with this year marking a decade since it launched - collected the views and insights from 11,300 businesses across its global network in over 130 countries.
20/03/2024
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Wingspire Capital provided a US$75m revolving line of credit to Signature Brands. The senior secured credit facility was used to refinance an existing debt facility and provide enhanced liquidity by tailoring the structure to the seasonality of the business.
19/03/2024
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Coface releases today the resulats of its survey on corporate payment behaviour in China.Coface's survey on payment behaviour shows that more companies are prepared to grant payment terms in 2023, but that they have shortened the average term from 81 to 70 days.
19/03/2024
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Tradewind Finance, a global trade finance firm headquartered in Germany, has announced it adds an additional €35m factoring facility for one of its clients, a steel manufacturer based in Europe with operations worldwide.
19/03/2024
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Accord Financial Corp. (Accord) yesterday announced that it has entered into amendments to its primary credit facility with its banking syndicate. As disclosed in its third quarter report, in November 2023, the Company uncovered significant irregularities in collateral reporting by a borrower related to a US$14.4m loan, which led the company to record a specific provision for credit losses relating to this loan.
19/03/2024
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