MODIFI Launches Partnership with DP World to Enable Digitization of Trade
New York, May 17, 2022 – MODIFI, the #1 global platform for SMEs to finance and manage international trade, today announced a partnership with DP World, the leading global logistics company and provider of smart supply chain solutions. The partnership aims to facilitate rapid and seamless access to working capital by adding MODIFI’s trade finance products to CARGOES Finance By DP World.
CARGOES Finance By DP World is a fintech platform that brings together global importers, exporters, logistics companies and financial institutions to facilitate expeditious end-to-end global trade finance. CARGOES Finance provides lenders with access to data on cargo movements, enabling them to lend with confidence to the SME segment.
DP World customers with cargo and shipping requests will now be able to take advantage of MODIFI’s trade finance products for both importers and exporters, enabling them to get access to working capital and manage their cash flow with confidence via a unified digital cockpit.
MODIFI is the only digital trade finance platform for SMEs that spans the three major trading regions of Europe, Asia and North America - a cluster which encompasses approximately 80% of global imports and exports. It provides businesses with simple digital solutions to finance and manage their trades, protect them from counterparty risk, and easily track their shipments.
Sinan Ozcan, Senior Executive Officer, DP World Financial Services Limited said: “This partnership with MODIFI marks another step in our mission to help bridge the ongoing global trade finance gap. With such valuable partnerships, the CARGOES Finance platform continues to expand in major trading regions across the globe and provide more and more SMEs with further access to working capital solutions.”
Mike Bhaskaran, COO for Logistics & Technology, DP World said: “We strive to provide new solutions for our customers that not only add value to the service we provide, but also help to digitise the trade ecosystem and enable smarter trade across all markets. Our partnership with MODIFI will see us continue our progress on this mission and continue developing the offering of the CARGOES Finance platform for our SME customers.”
Nelson Holzner, CEO & Co-Founder of MODIFI, said: “We are delighted to announce this strategic partnership with CARGOES Finance By DP World. 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 importers and exporters. Our partnership with CARGOES Finance 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 businesses are able to access the finance, the data, and the tools they need in order to meet their customers’ needs worldwide.”
MODIFI is a global fintech company that helps small and medium sized businesses (SMEs) finance and manage their international trade. Serving over 1200 buyers and sellers across more than 40 countries, MODIFI offers simple digital solutions that enable SMEs to trade like large corporates. Through its digital platform the company empowers importers and exporters to grow, fostering strong international partnerships and benefitting local economies. To see how businesses can grow with MODIFI, visit www.modifi.com or follow us on LinkedIn and Twitter.
Elena Ermishina Linda Healan
About DP World
We are the leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe. Our comprehensive range of products and services covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions.
We deliver these services through an interconnected global network of 190 business units in 68 countries across six continents, with a significant presence both in high-growth and mature markets. Wherever we operate, we integrate sustainability and responsible corporate citizenship into our activities, striving for a positive contribution to the economies and communities where we live and work.
Our dedicated, diverse and professional team of more than 58,500 employees from 147 nationalities are committed to delivering unrivaled value to our customers and partners. We do this by focusing on mutually beneficial relationships – with governments, shippers, traders, and other stakeholders along the global supply chain – relationships built on a foundation of mutual trust and enduring partnership.
We think ahead, anticipate change and deploy industry-leading digital technology to further broaden our vision to disrupt world trade and create the smartest, most efficient and innovative solutions, while ensuring a positive and sustainable impact on economies, societies and our planet.
About CARGOES Finance By DP World
Financial services offered on the CARGOES Finance By DP World Platform are associated with CARGOES by DP World (A suite of enterprise services and products for the world of logistics and trade) and provided by DP World Financial Services Limited. DP World Financial Services Limited is a company registered under the Dubai International Financial Centre (DIFC) and regulated by Dubai Financial Services Authority (DFSA).