Tradeling, a B2B eMarketplace focusing on the Middle East and North Africa (MENA) region, announced Tuesday (Jan. 4) that it has launched a partnership with the FinTech MODIFI.
In an announcement posed on MODIFI’s website, the companies say the partnership will support Tradeling users engaged in digital trade finance. With MODIFI’s help, Tradeling customers will get payment terms of 30, 60 or 90 days, while paying their suppliers early.
“The partnership will further help businesses to secure additional liquidity to fund trades where traditional financing solutions cannot help,” said Tradeling CEO Marius Ciavola. “It will increase their buying power and qualify them for discounts, which will enable companies to further improve margins and make their operations more profitable.”
MODIFI CEO and co-founder Nelson Holzner said the MENA region is an important market for the company.
“Like Tradeling, MODIFI believes that trade is a key driver for development around the globe, and we are happy to enable local buyers and sellers to grow their businesses,” Holzner said in the announcement.
Learn more: Online Marketplace Tradeling Offers Revolving Credit For SMBs
Tradeling says it offers trading assistance, as well as help with logistics and financing solutions, serving more than 100,000 registered buyers and sellers from 55 countries with gross merchandise value (GMV) growth of more than 65% month over month.
In 2020, Tradeling launched a credit facility for small- to medium-sized business (SMB) buyers that lets customers access a revolving credit line for sellers listed on the platform. This lets businesses free up capital, extend payment terms by 30 days and improve negotiations with sellers
Read more: FinTech Startup MODIFI Brings in $24M in Series B Funding
MODIFI upgraded its platform last year after raising $24 million in a Series B that valued the company at more than $120 million. The company launched in the U.S., Netherlands and Bangladesh in 2021, and now has nine offices around the world.
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