Varengold will refinance large parts of the receivables portfolio of JITpay’s logistics factoring division. These include small-scale spot market claims from transport services, which are billed and pre-financed via the JITpay platform or via the integration of JITpay with partners such as freight and vehicle space exchange TIMOCOM.
According to a Varengold Bank representative, the company will support JITpay in securing the flow of money for its partners. A JITpay representative states that this Special Purpose Vehicle (SPV) structure creates another refinancing option that will enable the company to grow.
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