DUBAI : CARGOES Finance by DP World and global trade financing platform MODIFI will work together to facilitate access to working capital for emerging-market small and medium-sized enterprises (SMEs).
The new partnership will enable DP World customers with cargo and shipping requests to utilise MODIFI’s products to help manage their cash flow and invest in business growth.
“With global trade witnessing significant disruption during the COVID-19 pandemic, finance and payments are playing a vital role in reducing the impact of disruption on SMEs,” said Nelson Holzner, CEO of MODIFI.
“Our partnership with DP World will deliver huge value across the supply chain by unifying our fintech platforms and allowing us to leverage each other’s expertise.”
“This collaboration will ultimately ensure SMEs are able to access the finance, the data, and the tools they need in order to meet their customers’ needs worldwide.”
CARGOES Finance aims to enable digitisation of trade by supporting shippers with tracking to ports around the world and helping manage their operations or regulatory logistics needs.
Sinan Ozcan, Senior Executive Officer of DP World Financial Services Limited added: “This partnership with MODIFI marks another step in our mission to help bridge the ongoing global trade finance gap.”
“The CARGOES Finance platform now expands to all major trading regions, enabling us to help more SMEs and provide further access to working capital solutions”.