In a recent business update following the announcement on February 29, 2024, Supply@ME Capital plc (SYME), a pioneering fintech company, has reported significant progress in its Inventory Monetisation© (IM) solutions.
These solutions are designed to enhance cash flow for manufacturing and trading companies through a cutting-edge fintech platform.
White-label IM Business Line Progressing
SYME, in collaboration with Banco BPM S.p.A. (BBPM) and the WL Client Company, is nearing the completion of commercial contracts that will solidify BBPM’s commitment. The working group, including external legal teams, is finalizing these contracts with further meetings scheduled in April to secure the remarketing commitment with a leading Italian cheese producer, also a BBPM client. Additionally, a term sheet is being signed to facilitate an additional IM transaction with the same remarketer.
Digital Assets Route Gains Momentum
SYME is structuring a security token framework with the CH Trading Hub, owned by Société Financière Européenne S.A. (SFE), to enable a security token issuance of up to USD$100 million. This initiative has attracted significant interest from institutional investors in the digital asset markets.
A strategic partnership has been formed, securing a USD$5 million commitment from an asset manager specializing in digital assets. Efforts are underway to raise an additional USD$5 million to execute an initial IM transaction within the overall USD$100 million program.
Collaboration with Investment Banks and Asset Managers
The company is also working with an investment banking division of an Italian neo banking group and two asset fund managers to explore participation in ad hoc IM programs. SYME is set to provide market updates on the launch of specific IM programs that leverage traditional funding routes, including a securitisation company authorized in Luxembourg and owned by SFE.
SYME’s innovative approach to fintech and its strategic partnerships are paving the way for new opportunities in inventory monetisation and digital asset management.