Tradeshift taps into Chinas supply chain financing market

Thursday 6 April 2017 10:33 CET | News

Tradeshift has partnered with CreditEase to deliver a trade financing app that will bring low-cost financing to millions of businesses in China.

CreditEase, a peer-to-peer lender in China, can now deliver accounts receivables financing to millions of fast-growing SMEs.

The goal of the broader partnership is to help solve the financing difficulties that many SMEs face in China through the digitalization of trade financing. As a first step, CreditEase, which invested in Tradeshift through a Series D round last year, has integrated and delivered an app on the Tradeshift platform. The app connects to CreditEase’s Fintech solution, which combines an expansive database containing information such as historical transaction and buyer payment data along with the company’s risk control and financial management expertise. The app allows SMEs to apply for credit based on the invoice approval and buying power of their cross-border enterprise buyers.

Through the company’s venture fund, CreditEase New Financial Industry Investment Fund, CreditEase will work with Tradeshift to jointly develop solutions that enhance traditional supply chain finance services.

The partnership is the latest in a string of announcements from the region. In late 2016, Tradeshift announced the launch of two joint ventures in China to connect millions of trading partners, digitalize the transactions between them, and offer accessible financial services to SMEs in the region.

The company is on track to process upwards of 100 million transactions per year across supply chains throughout China.

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Keywords: Tradeshift, China, supply chain finance, SMEs, trade financing
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech