Sequoia India led the Series A round. The CMA CGM Group, a shipping and logistics company, also participated in the round. The startup will deploy the fresh capital to expand into Europe, Southeast Asia, and North Asia and bulk up its technology stack.
Incomlend’s invoice trading platform is solving three pain points. Exporters typically get paid weeks or months after shipping goods and lack working capital to move to service other orders until they have received the due. Incomlend says its platform employs AI-powered underwriting technology to enable exporters to receive early payment.
Similarly, the startup says importers on its platform can minimize the risk of supply chain disruption and set more favourable payment terms. And investors have found a new alternative asset class to invest in through Incomlend that offers returns in shorter durations.
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