The deal is set to give local Singapore businesses additional access to cash to solve short-term shortfalls in liquidity.
SESAMi works with around 15,000 small businesses and 5,000 large buyers around the globe each year. The firm processed SGD 1.8 (USD 1.4) billion worth of e-invoices in the last 12 months, a figure that has grown steadily 14% year-on-year since its inception in September 1999.
SESAMi’s clients include SingTel, Singapore Airlines, Changi Airport Group, Healthcare Community (i.e. National Healthcare Group, Jurong Health, Alexandra Health, National University Hospital), Singapore Power, OCBC Bank, Singapore Refining Companies, Singapore Airport Terminal Services, ST Engineering Group, SBS Transit and DSTA.
SESAMi has enjoyed a long history of relationships with banks such as DBS (for trade finance) and OCBC and CitiBank (for other corporate programmes).
SESAMi is an Asian e-procurement service provider, operating a B2B eMarketplace and providing solutions for transacting commerce on the internet.
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