Weekly Receivables Finance News from BCR

TOP STORIES

South Korea announces $190bn boost in trade insurance to propel exports

The Ministry of Trade, Industry, and Energy has declared an unprecedented injection of KRW255tn (US$190bn) into trade insurance this year, marking a significant increase of KRW10tn from 2023.

Malayan Insurance teams up with Atradius for trade credit insurance boost

Malayan Insurance Co. Inc., a Philippine non-life insurance firm, has teamed up with Dutch Atradius Credito y Caucion S.A. de Seguros y Reaseguros, an international trade credit insurer, in a move aimed at greatly benefiting numerous local and international commercial enterprises.

Fausto Galmarini is re-elected Chairman of EUF

Mr. Fausto Galmarini, a member of the Executive Committee of Assifact, the Italian Factoring Association, has been re-elected as Chairman of the EUF following a vote by the EUF’s Executive Committee, on 21 March 2024. His mandate takes effect immediately for a period of 2 years.?

Invoicemart reached INR 10bn invoice finance milestone

Invoicemart, India’s largest Trade Receivables Discounting System (TReDS) platform, has witnessed exponential growth in invoice financing volumes in the last years.

Tradewind Finance provides additional €35m factoring facility for steel manufacturer

Tradewind Finance, a global trade finance firm headquartered in Germany, has announced it adds an additional €35m factoring facility for one of its clients, a steel manufacturer based in Europe with operations worldwide.

OTHER STORIES

• Zoth expands on-chain trade finance in Southeast Asia with receivables tokenisation
• Czech Flowpay raises €2.1m seed round to expand AI-powered financial solutions for SMEs
• Ujjivan SFB partners with Veefin for enhanced MSME supply chain finance
• Tide appoints George Schmidt as CEO UK/Europe, accelerating expansion plans
• BCR Webcasting: Sean Edwards, ITFA
• BII supports TDB with $100m for African trade and food security
• Time Finance expands block discounting facility with Cynergy Business Finance
• HSBC Singapore backs Indonesian fintech Akulaku with $100M debt financing
• Maybank partners with Doxa Holdings to boost SCF
• WFY′23: Danish factoring market recorded a good performance
• GHIB to develop trade finance in Sub-Saharean Africa
• More than 150 representatives from the European factoring market meet in Vienna
• Atradius reports €372.2m result for 2023
• Atradius comments on interest rates news
• Australian invoice finance platform raises AU$16m new capital
• Mandula Moments: How receivables finance help achieve greater financial inclusion??
• Latam trade finance platform raises US$12m new funding
• OroCommerce and Allianz Trade partner to provide B2B e-commerce solution
• Finacity facilitates US$30m receivables-based loan programme for Novaria with Synovus
• Taulia: Over half of the businesses say they are paid late
• Wingspire Capital??provides a US$75m?revolving line of credit to Signature Brands
• Coface: Payment delays in China continued to shorten, but corporates increasingly cautious
• Accord announces amendments to its banking facility
• Enterprise freeze: SMEs stall investment and growth plans