Move to serve growing demand for sustainable supply chain finance
There is a staggering US$ 2.5tr global trade finance gap that mainly affects SMEs in emerging countries, limiting their ability to access new business opportunities.
Helping businesses to bridge this finance gap, supply chain fintech Twinco Capital recently announced, in the sixth edition of the Valencia Digital Summit (VDS), it has secured an additional € 50mn facility with BBVA Spark to accelerate growth, according to a press statement.
Twinco, one of the few European high growth fintechs led by women, offers the first sustainable supply chain finance solution in the market that covers purchase order funding and has provided over $250 million in funding to suppliers in emerging markets.
Innovative criteria
“We are very pleased to support Sandra and Carmen, two entrepreneurs who have reinvented, with Twinco, the way supply chains are financed on a global scale by incorporating innovative environmental and social criteria into their supplier financing model” explained Roberto Albaladejo, Head of BBVA Spark.
“It is only by partnering with this calibre of like-minded, financial institutions, that we will be able to address large-scale challenges like the one Twinco has set out to solve: closing the trade finance gap,” remarked Sandra Nolasco, CEO, Twinco Capital.
“The value added Twinco is providing to customers stems from the combination of its unique funding solution with business intelligence that provides a holistic overview of supply chain risk,” commented Carmen Marin, COO, Twinco Capital.
