Supply@ME to acquire Singapore based commodities trade enabler
LONDON: Supply@ME Capital plc, the innovative fintech platform which provides the Inventory Monetisation service to manufacturing and trading companies, has signed Heads of Terms (HoT) for the acquisition of a leading FinTech-powered commodities trade enabler, focused on SMEs, based in Singapore.
The acquisition will allow SYME’s Platform to complete its global offering, by monetising inventory (in particular, commodities) “in-transit”.
Not least, it would generate a number of attractive synergy benefits for SYME from both a funding and customer origination perspective.
Following the signing of the HoT and completion of Due Diligence, SYME expects to complete the acquisition within the next month.
Supply@ME enables businesses to generate cashflow, without incurring debt, by monetising their existing stock. Before a business has found an end-customer for its inventory, the Supply@ME platform enables them to sell (monetise) their stock and receive cash immediately to boost their working capital.
The Supply@ME service enables strong companies to improve their working capital cycle. SYME does not monetise inventory for companies in financial difficulty or with inventory that they are struggling to sell.