GIFT City based platform, VTX operates under the regulatory supervision of the International Financial Services Centre Authority (IFSCA) and has established itself as an efficient digital platform to connect exporters and importers, facilitating access to cross-border trade finance products.
FinTech BizNews Service
Mumbai, August 27, 2024: Vayana TradeXchange (VTX), the leading International Trade Finance Service (ITFS) platform, announced a partnership with Air8, an insight-driven global supply chain financier, to transform cross-border trade finance between India and the rest of the world. This collaboration is intended towards making trade finance accessible for Small and Medium Enterprises (SMEs) and Micro, Small, and Medium Enterprises (MSMEs) exporters across India.
Through this partnership, Air8 is poised to leverage Vayana TradeXchange's extensive network of MSME suppliers, buyers, and financiers in India to connect them with its global ecosystem. This will make trade financing more accessible and affordable for Indian exporters, supporting their cross-border trade operations and aligning with the government's vision to promote India as the manufacturing and export hub, playing a major part in global supply chains.
Access to formal finance remains a significant challenge for many MSME exporters in India. These businesses often struggle with obtaining timely and affordable trade financing, hindering their growth opportunities and competitiveness. The partnership aims to empower the exporters to navigate the complexities of cross-border trade and mitigate risks associated with international buyers by leveraging Air8’s deep industry-specific insights in international trade and VTX’s innovative auction-based marketplace.
GIFT City based platform, VTX operates under the regulatory supervision of the International Financial Services Centre Authority (IFSCA) and has established itself as an efficient digital platform to connect exporters and importers, facilitating access to cross-border trade finance products. The platform facilitates transparent interactions between financiers, exporters, and importers, promoting inclusivity and accessibility in trade finance.
"We are excited to partner with Air8 to further our mission of democratizing trade finance and making it available to the smallest of businesses from the largest of lenders," said Kalyan Basu, MD & CEO, Vayana TradeXchange. This collaboration will enable us to leverage Air8's global reach and expertise to empower MSMEs in India and drive their growth and competitiveness in cross-border trade."
Established in 2021, Air8 is a technology-based supply chain platform that stands out in the fintech industry with its seamless onboarding process and profound insights into fashion and general merchandise sectors. Since its inception, Air8 has achieved over US $1 billion in annual GMV and has financed suppliers across multiple countries globally. By integrating with VTX’s platform, Air8 will further enhance accessibility to finance for SMEs and MSMEs, thereby facilitating sustained growth and resilience in the sector.
