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.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright