Fintech leader strengthens position in cross-border B2B payments and trade finance, eyeing rapid growth across Asia, including China and India.
FinTech BizNews Service
Mumbai, 9 November, 2024: MODIFI, a leading global platform in B2B Buy Now, Pay Later (BNPL) solutions, has announced
the successful completion of a $15 million funding round led by SMBC Asia Rising Fund with participation
from existing investors Maersk, IntesaSanPaolo, Heliad and other top-tier global investors.
Sumitomo Mitsui Banking Corporation (SMBC), one of Japan’s leading banks and a major financial force in
the APAC region, brings both capital and strategic alignment to the partnership. Beyond the equity investment,
MODIFI and SMBC have signed a Memorandum of Understanding (MoU) to jointly advance digital solutions
that support SME exporters across Asia in expanding their international trade operations. Through a series
of joint initiatives, MODIFI and SMBC aim to empower SMEs with innovative cross-border
financing solutions.
The announcement comes on the sidelines of Singapore Fintech Festival, showcasing MODIFI's
drive for innovation in the global fintech landscape. This new capital infusion will accelerate
MODIFI's expansion, particularly in high-growth markets like China and India, where the
company has already made significant inroads. MODIFI’s platform delivers critical liquidity and
flexible payment terms to small and medium-sized enterprises (SMEs), helping them optimize
cash flow and expand their international reach.
;The funding underscores the strength of our business and the confidence our investors have in
our vision for the future; said Nelson Holzner, CEO and Co-founder of MODIFI.;As global
commerce evolves, MODIFI is at the forefront, providing innovative solutions that empower
businesses to scale and succeed across borders.
MODIFI's exponential growth has solidified its position as a market leader in cross-border
payments and trade finance. Recognized by Financial Times and Statista as one of the Fastest
Growing European Fintech Companies in 2024, MODIFI has facilitated over $3 billion in
global trade for more than 1,800 companies since it was founded in 2018. The platform offers
instant working capital approval, alongside integrated risk management tools that shield
businesses from buyer defaults and fraud.
"Our mission is simple: We empower SMEs to compete and thrive in the global market with fast,
flexible, and secure payment solutions,; added Holzner. "With this fresh funding, we’re set to
redefine global trade finance—ensuring businesses of all sizes can unlock the liquidity and get
the protection they need to grow internationally. By transforming cross-border supply chain finance for the digital age with their global presence,
we believe MODIFI supports SMEs to scale their export businesses with ease. We look forward
to collaborating with MODIFI to empower our corporate clients to expand their businesses
globally with agility and financial flexibility overcoming traditional trade barriers.”, said Keiji
Matsunaga, General Manager of Digital Strategy Department, SMBC.
