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Zurich Insurance Group has filed a counterclaim in London's High Court, alleging a 'conspiracy' involving financier Lex Greensill, steel magnate Sanjeev Gupta, and their companies, according to the Financial Times. The lawsuit, stemming from the collapse of Greensill Capital in 2021, centres on a US$400m credit insurance dispute.
06/02/2024
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Financial technology startup Micro Connect, with backing from prominent figures like Hong Kong property tycoon Adrian Cheng and billionaire Li Ka-shing, has secured a US$200m syndicated asset-backed loan with HSBC, including an initial funding support of US$50m from the latter. Founded in 2021 and headquartered in Hong Kong, Micro Connect facilitates global institutional investments in micro and small businesses across mainland China.
06/02/2024
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Finacity Corporation ("Finacity"), a White Oak company specialising in receivables financing and administration, achieved a significant milestone by surpassing a record US$200bn in annual flow of financed receivables. In 2023, Finacity successfully closed seven new transactions, totalling over US$1bn in new financing, and increased existing transactions by US$650m.
06/02/2024
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Featuring supply chain finance statistics, seven regional reports, supplier directories from 49 countries, plus incisive specialist articles, the World Supply Chain Finance Report 2024 is an essential point of reference for the world supply chain finance industry.
06/02/2024
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Westpac, a leading Australian bank, has opted for Dancerace, an advanced invoice finance and ABL operating system, to elevate its invoice finance system. This strategic move aligns with Westpac's commitment to operational simplicity.
05/02/2024
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Austrian entrepreneur Thorsten de Jong, who founded the startup Finyoz in May 2023, has recently introduced an online financing platform of the same name. This platform is specifically designed to unite private and institutional customers in the realm of factoring and invoice financing, providing an innovative solution to streamline financial processes for businesses.
05/02/2024
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Singaporean fintech firm Validus Group is strategically addressing SME financing challenges in the region using data analytics, AI, and supply-chain partnerships. The Group has its presence in Indonesia, Singapore, Thailand, and Vietnam, making it a key player in multiple markets.
05/02/2024
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Veefin Solutions, a prominent technology vendor specialising in Supply Chain Finance in India, has recently expanded its clientele by onboarding Metalbook, a comprehensive tech-enabled entity in the country's metal industry.
05/02/2024
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Global payments technology company, Mastercard and B2B commerce platform, Boost, have collaborated to provide digital payment wallets and embedded supply chain finance to empower and expand small businesses in the Fast-Moving Consumer Goods (FMCG) sector in Africa.
05/02/2024
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UK Export Finance (UKEF) has announced a guarantee for up to US$100m of new support to help a Northern Ireland tech firm meet growing international demand for its products and services.
02/02/2024
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Schottenstein affiliate Second Avenue Capital Partners (SACP), a leading provider of asset-based loans and credit facilities, announced today it has closed on a new US$15m senior secured credit facility for Brixton, an omnichannel global lifestyle brand headquartered in Oceanside, California. The credit facility will be instrumental in optimising Brixton’s working capital and fueling its continued growth in the competitive fashion industry.
02/02/2024
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In addressing the working capital requirements of doing business, Tradewind Finance (Tradewind)has announced funding for two new clients within the apparel and textile market, further extending its reach in the segment. Through the new client relationships, Tradewind continues to improve liquidity and enable trade for companies by converting their unpaid receivables into ready cash.
02/02/2024
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Last year, the GDP of Germany grew slightly by 1.8 per cent, not as much as in the previous year, said Jens Hoter, Branch Director, Crédit Agricole Leasing & Factoring S.A.
02/02/2024
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BBVA has joined Komgo, the world’s largest multi-bank trade finance network, to help digitalisation of its international clients, enhancing their communication processes with BBVA and achieving greater efficiency in their trade finance operations.Clients are now able to reach BBVA through Komgo and digitally handle their trade finance activities, such as guarantees or letters of credit.
01/02/2024
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The Supervisory Board of GRENKE AG has approved the Board of Directors' decision to focus on the leasing business with small and medium-sized companies in the future and initiate the sale of all factoring companies. The synergies with the core leasing business that were anticipated at the time of entering the factoring business have not materialised.
01/02/2024
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