News

Incomlend secures USD 20 mln in funding round

Tuesday 11 August 2020 09:51 CET | News

Incomlend, a Singapore-based startup that operates a trading platform to connect exporters and importers with investors, has raised USD 20 million in a new financing round.

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.


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Singapore, trade finance, startup, Incomlend, Sequoia Capital India, CMA CGM Group, Europe, Southeast Asia, North Asia, technology, invoice, AI, artificial intelligence, supply chain, payments
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Singapore
This article is part of category

Banking & Fintech