PrimeRevenue and IFS Capital Announce Strategic Partnership to Provide Supply Chain Finance Solutions in Southeast Asia
Technology licensing partnership combines PrimeRevenue's industry leading supply chain finance platform with IFS Capital's deep trade finance expertise in Southeast Asia
ATLANTA, Aug. 24, 2021 /PRNewswire/ -- PrimeRevenue, Inc., the leading provider of technology-enabled working capital solutions, and IFS Capital Limited ("IFS Capital") announce a new strategic partnership designed to address the trade finance needs of large and middle-market companies in Southeast Asia.
Supply chain finance is a proven working capital solution that effectively addresses much of the friction faced by micro, small and medium enterprises (MSMEs) in accessing fit-for-purpose financing. This solution, which is initiated by buyers to provide suppliers alternative financing options for their invoices, provides suppliers access to competitively priced financing and the opportunity to shorten their cash conversion cycles. In return, buyers can optimize their cash flow through favorable payment terms and stronger relationships with their suppliers.
"We are excited about our collaboration with IFS Capital, which will deliver supply chain financing solutions to the Southeast Asian MSME market," said Dominic Capolongo, EVP Global Head of Funding for PrimeRevenue. "This partnership accentuates our belief that supply chain finance brings powerful benefits to MSMEs. Our platform is purpose built to cater not only to large scale players, but also smaller companies with a strong need for working capital solutions."
"The IFS Capital-PrimeRevenue partnership is a timely one to address the supply chain issues we are facing today," said Zeng Renchun, IFS Capital's Singapore Country Head. "PrimeRevenue is a global leader in trade finance technology, and its best in-class platform supports large MNCs and midmarket companies on supply chain financing programs globally. This, coupled with our expertise and deep understanding of MSME financing needs in the region, will help MSMEs gain access to capital and unlock cash trapped in the supply chain."
Under the agreement, IFS Capital will offer PrimeRevenue's platform solutions in its core markets of Singapore, Thailand, Malaysia and Indonesia to support supply chain finance programs anchored by large and middle-market corporations. IFS Capital will leverage its existing network in the region to onboard buyers and facilitate the adoption of PrimeRevenue's supply chain finance technology platform. The addition of IFS Capital's partnership will expand PrimeRevenue's commitment to serving the needs of MSMEs in the Southeast Asian market.
About PrimeRevenue
PrimeRevenue's supply chain finance (approved payables financing) solutions help organizations in 80+ countries optimize their working capital to efficiently fund strategic initiatives, gain a competitive advantage and strengthen relationships throughout the supply chain. As the leading provider of working capital financial technology solutions, PrimeRevenue's diverse multi-funder platform processes more than USD$250 billion in payment transactions per year. The company is headquartered in Atlanta, with offices in London, Prague, Hong Kong and Melbourne. Additional information about PrimeRevenue can be found at www.primerevenue.com | Twitter: @primerevenue | LinkedIn: www.linkedin.com/company/primerevenue.
About IFS Capital Limited
IFS Capital is a leading financial institution specializing in providing customized financing solutions in Southeast Asia. The Group was incorporated in Singapore in 1987 and has been listed on the Singapore Exchange since July 1993. The Group is part of the Phillip Capital network of companies, with a global presence that provides factoring, leasing and lending services covering individuals, family offices, and corporate and institutional clients across Singapore, Thailand, Malaysia and Indonesia. ECICS Limited, a wholly owned subsidiary of IFS Capital, also provides bonds and general insurance services in Singapore. For more information, please visit: https://www.ifscapital.com.sg
PrimeRevenue Media Contact
Ariane Wolff
Warner Communications
[email protected]
+1. 978.729.3542 (U.S.)
IFS Capital Limited Media Contact
Romil Singh - Email: [email protected]
Shivam Saraf - Email: [email protected]
Telephone: +65 6438 2990
SOURCE PrimeRevenue, Inc.
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