MODIFI Secures $15 Million Investment from SMBC Asia Rising Fund
Deal News | Nov 06, 2024 | PR Newswire Cision MODIFI B.V.
MODIFI, a leader in B2B Buy Now, Pay Later (BNPL) solutions, has successfully closed a $15 million funding round led by the SMBC Asia Rising Fund. This investment, announced at the Singapore Fintech Festival, involves other major investors, including Maersk and IntesaSanPaolo. The Sumitomo Mitsui Banking Corporation (SMBC), a principal Japanese bank, provides both capital and strategic alignment, signing a Memorandum of Understanding (MoU) with MODIFI to develop digital solutions fostering SME exporters across Asia. This partnership aims at enhancing cross-border financial solutions, focusing on high-growth markets like China and India. Since its inception in 2018, MODIFI has facilitated over $3 billion in global trade for more than 1800 firms, recognized as a fast-growing European fintech by Financial Times and Statista in 2024.
Sectors
- Financial Technology (Fintech)
- International Trade and Export Financing
Geography
- Asia – The strategic investment aims to boost MODIFI's operations in Asian markets, particularly China and India.
- Netherlands – MODIFI is based in Amsterdam, indicating its roots and operations.
- Singapore – The investment was announced during the Singapore Fintech Festival, showing the relevance of this location in the article.
Industry
- Financial Technology (Fintech) – The article discusses MODIFI, a fintech company, expanding its cross-border B2B payment solutions, which is a key aspect of the financial technology industry.
- International Trade and Export Financing – MODIFI focuses on empowering SMEs with cross-border trade financing, serving the international trade and export financing industry.
Financials
- $15 million – The amount of strategic investment secured by MODIFI from SMBC Asia Rising Fund.
- $3 billion – Total trade facilitated by MODIFI since 2018.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MODIFI | Target | Company | A fintech company specializing in B2B cross-border payment solutions and trade financing. |
| SMBC Asia Rising Fund | Investor | Company | A fund co-financed by Sumitomo Mitsui Banking Corporation, investing in high-potential startups in Asia. |
| Sumitomo Mitsui Banking Corporation (SMBC) | Strategic Partner | Company | A leading Japanese bank and a significant financial force in the APAC region. |
| Maersk | Investor | Company | An existing investor in MODIFI, participating in the funding round. |
| IntesaSanPaolo | Investor | Company | An existing investor in MODIFI, participating in the funding round. |
| Heliad | Investor | Company | An existing investor in MODIFI, participating in the funding round. |
| Nelson Holzner | CEO | Person | CEO and co-founder of MODIFI, leading the company towards its strategic goals. |
| Keiji Matsunaga | Director General, Digital Strategy Department | Person | Director General of the Digital Strategy Department at SMBC. |