Maersk invests in German trade finance platform

Thursday 6 June 2019 10:55 CET | News

The venture capital arm of Moller Maersk has announced investing in Germany-based financing platform startup Modifi.

Financing platform Modifi raised EUR 5.5 million in its second round of capital raising with Maersk Growth, the corporate venture arm of A.P. Moller-Maersk, the lead investor.

The Modifi (Modern Digital Finance) platform was founded in November 2018 by three Germans who had previously been involved in Billpay, a service provider for the settlement of bill payments, bought two years ago by the Swedish payment service provider Klarna.

Using Modifi, traders can pre-finance individual orders worth between EUR 5,000 and EUR 75,000. The service is aimed at small and medium-sized companies that buy goods abroad. Modfifi said the new investment would see the platform target India for business, a nation Maersk has also been focusing on in its nascent trade finance initiatives.

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: Maersk, Modifi, Germany, Denmark, Europe, partnership, trade finance, financing , financing platform, Venture Capital, startup, payments , fintech
Countries: World