March 26, 2024
Bridging Borders: How VoloFin Empowered an SME FMCG Exporter from India
In the dynamic world of international trade, small and medium-sized
enterprises (SMEs) often face significant hurdles in securing financing,
especially when dealing with buyers across borders. Such was the case for an
Indian exporter of Fast-Moving Consumer Goods (FMCG), eyeing the Dutch
market. Traditional banks, constrained by conventional lending criteria and
limited information on the overseas buyer, couldn’t provide the necessary
support despite the exporter’s regular orders.
Enter VoloFin, a Singapore-based fintech and factoring entity, pioneering
innovative solutions for SMEs. Leveraging its extensive network of API
providers, VoloFin navigated the complexities of cross-border trade finance,
swiftly obtaining crucial credit information on the Dutch buyer. Armed with
insights, VoloFin extended a capacity of over a few million USD to the Indian
exporter, unlocking growth opportunities previously hindered by financial
constraints.
VoloFin’s transformative role in facilitating this transaction underscores the
pivotal role of fintech in democratizing access to finance for SMEs,
transcending traditional banking limitations. By harnessing technology and
fostering strategic partnerships, VoloFin exemplifies how fintech innovation
can empower businesses to seize global opportunities, transcending
geographical barriers and unlocking untapped potential in the ever-evolving
landscape of international trade.
Categories
Gain access to collateral-free working capital solution in just 24 hours
Related Blogs
Mumbai: VoloFin is a one-of-its-kind fintech platform, providing end-to-end solutions in the domains of factoring and supply chain financing. The company positions itself as both a lender and a platform, wherein banks can participate in the factoring business.
Global trade finance is a vital component of the international economic landscape. It has evolved significantly over the years, and in the 21st century, the global trade finance landscape is complex, presenting opportunities as well as challenges along its growth path.