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Tradeshift, EKF to roll out supply chain finance model

Tuesday 12 May 2020 13:00 CET | News

US-based spend management platform Tradeshift and Denmark-based ECA Eksport Kredit Fonden have planned a supply chain finance programme to aid businesses amid the pandemic.

Banks will be encouraged to offer “favourable” credit lines to large organisations in Denmark, with the finance earmarked to pay their suppliers. EKF will underwrite lines of credit to companies that generate at least 20% of their revenue from export activities. By targeting the 250 largest buyers in Denmark, up to USD 55 bln in working capital can be made available to these companies’ suppliers from June 2020 to June 2021, according to gtreview.com.

The programme relies on accessing invoice data exchanged between buyers and sellers to build up an accurate picture of existing invoice liquidity that is eligible for finance. Tradeshift will help businesses deliver visibility into these transactions to enable the system to launch and scale. Firms that rely on paper-based invoices are not able to access the solution. Currently, the programme is only available in Denmark. 

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Keywords: Tradeshift, EKF, SCF, supply chain finance, ECA, export credit agency, pandemic, credit lines, supplier, working capital, invoice data, buyers and sellers, invoice liquidity, transactions, paper-based invoices, e-invoicing, spend management
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Denmark
This article is part of category

Banking & Fintech