MODIFI Secures $145M in Debt Financing to Strengthen Trade Support for SMEs

SMB-focused digital trade finance platform MODIFI secured $145 million in debt funding from existing banking partners Silicon Valley Bank and Solarisbank.

MODIFI has quadrupled its activity year on year

The company says the debt financing will be used to help more small and medium-sized businesses trade internationally on its digital platform.

MODIFI helps SMEs finance and manage their international trade, track and manage their shipments and reduce counterparty risk. The start-up aims to make it easier for companies to overcome traditional barriers to entry and grow their businesses to boost local economies.

The COVID-19 pandemic has had a negative impact on exporting and importing SMEs, according to MODIFI, and with increasing global trade and consumer demand, it is becoming more difficult to manage supply chain disruptions .

CEO Nelson Holzner said: “2021 has been a challenging year for SMEs, which have faced logistical challenges and skyrocketing freight rates amid a strong rebound in consumer demand.

“We were able to step in and help our customers gain additional liquidity and risk protection, allowing them to process additional orders and grow their business.”

MODIFI claims to have quadrupled its business year-over-year, with India remaining the largest single market.

In September, MODIFI closed a Series B funding round worth €20 million.

The fundraising, led by investor Heliad Equity Partners, brought the valuation of the fintech to more than 100 million euros.

Carol M. Barragan