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3S Money launches trade finance fund to supercharge SME global trading

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  • Fund set to lend at least £100m to SMEs over the next three years
  • 3S Money on mission to help small businesses from a wide variety of jurisdictions go global
  • Financing provided by Dutch fund, FGR 3S Global Trade Finance Fund, which is managed by 3S Money’s Dutch subsidiary, 3S Capital Partners B.V.

3S Money, an authorised Electronic Money Institution (EMI) regulated by the UK’s FCA, today announces the launch of a trade finance fund – FGR 3S Global Trade Finance Fund – set to lend at least £100m to SMEs over the next three years. The fund, managed by 3S Capital Partners B.V., a wholly owned Dutch subsidiary of 3S Money, is designed to help importers and exporters expand their businesses into new markets and trade more easily around the world.

Trade finance is typically only offered by traditional banks to large enterprises. The existing digital offerings do not provide meaningful cross-border trade finance and limited access to international payments infrastructure often restricts how far or quickly smaller companies can expand their operations.

The launch of this fund and 3S Capital Partners’ financing expertise makes it easier for smaller companies from a wide variety of jurisdictions to access critical capital infrastructure. The fund will help them trade overseas, scale faster, increase their revenue and get closer to their international customer base.

Multi-currency loan facilities for importers and exporters will start from £250,000 and have flexible duration. The fund has already successfully completed its first trade financing deal of EUR 2 million, helping an Estonian trader expand its agricultural commodities exports to Belgium and the Netherlands.

Ivan Zhiznevskiy, CEO of 3S Money comments, “Millions of mid-sized businesses are prevented from trading globally, falling off the radar of domestic focused banks, new or old. We’re on a mission to help small businesses go global.

“In 2022, finance needs to be more inclusive. All businesses, regardless of size, deserve easy to access financial support. This is why we’re launching our trade finance fund – to take the pain out of global trading and enable businesses from around the globe to expand their business, increase revenue, and contribute even more to the global economy. This trade finance offering is a natural extension of the 3S Money payment services ecosystem, building on the group’s proven track record and expertise in facilitation of global trade flows.”

Launched in 2018, 3S Money has already reached profitability. The fintech scaleup connects corporations to their customers globally by providing them with local business accounts to send and receive funds through all major payment rails. After launching in the UK, 3S Money now provides local UK, Netherlands Luxembourg, Germany, Denmark and US accounts to entrepreneurs in over 190 countries.

 

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Tata Motors partners with IndusInd Bank to offer exclusive Electric Vehicle Dealer Financing

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Key Highlights:  

  • One-of-its kind Electric Vehicle Inventory Financing program for Tata Motors’ dealers 
  • Limits extended towards EVs will be over and above regular dealer finance limits for Internal Combustion Engines (ICE) 
  • Attractive special pricing  
  • Additional limit to cater in peak seasons, can be extended 2 times in a year 

In its effort towards increasing EV adoption in the country, Tata Motors, India’s leading automotive manufacturer, today announced that it has joined hands with IndusInd Bank to offer an exclusive Electric Vehicle Dealer Financing solution to its authorized passenger EV dealers. Under this scheme, IndusInd Bank will provide additional inventory funding with attractive pricing to authorized passenger EV dealers of Tata Motors. This additional inventory funding would be over and above the ICE finance limit of the dealers. Repayment tenure will range from 60 to 75 days. Furthermore, IndusInd Bank will also offer additional limit to cater to high demand phases, which will be available to dealers 2 times in a year.

The MoU for this partnership was signed by Mr. Aasif Malbari, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. and Mr. Sanjeev Anand, Head – Corporate, Commercial, Rural & Inclusive Banking, IndusInd Bank Ltd.

Commenting on the rollout of this offer, Mr. Aasif Malbari, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. said“As we move along towards our aim of electrification and green mobility, we are ecstatic to partner with IndusInd Bank to assist our authorized electric passenger vehicle dealer partners with an exclusive financing program. Our dealer network is one of our core support pillars and through their constant efforts we have been able to ride the electrification wave in India. We are positive that through this tie-up, we will make EVs more accessible and the EV buying process, a seamless and a memorable experience for our customers.” 

Speaking of this partnership, Mr. Sanjeev Anand, Head – Corporate, Commercial, Rural & Inclusive Banking, IndusInd Bank Ltd., said, “As a bank with sustainability at our core, we are extremely delighted to partner with Tata Motors, one of India’s leading automotive brands, to offer an exclusive electric vehicle dealer financing program for authorized passenger EV dealers of Tata Motors. We are proud to partner with the segment leader in the journey toward a sustainable future. Through this tie-up, we are also looking forward to expanding our base into new consumer segments and be a bank of choice providing solutions to meet all banking requirements of the customers.” 

Tata Motors has been pioneering the Indian automotive market with its groundbreaking efforts, and is currently leading the e-mobility wave in India with a commanding market share of 89%, with over 50,000 EVs produced till date in personal and fleet segments.

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astrantiaPay Selects SaaScada to Enrich Swiss Landscape of Business Payments and Fill Market Gap

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Swiss financial firm, astrantiaPay, to use SaaScada’s cloud-native core banking engine to simplify cross-border payments for SMEs and facilitate international trade and services across the old and new economies

 Cloud-native core banking engine, SaaScada, today announced it was selected by astrantiaPay to launch a Swiss point of contact for international businesses looking to open and run corporate bank accounts in Switzerland. Once regulatory approval is in place, astrantiaPay will provide mission-critical payment services to sophisticated Swiss, European, and global companies.

“Promoting SMEs is high on the agenda of policymakers, but the reality is very different when dealing directly with banks. In fact, financial institutions often show little or no appetite for low-margin, labour-intensive company accounts with regular cross-border payments”, explains Lukas Wissner, CEO of astrantiaPay. “As a result, opening and maintaining corporate bank accounts can become a complex and costly procedure, posing a real challenge for Swiss and European start-ups and established businesses. This can hinder growth, and sometimes even threaten a company’s existence. Ultimately, corporate bank accounts with a foreign nexus are an underserved niche segment in the Swiss financial ecosystem which is historically dominated by asset managers and private banking.”

SaaScada is an industry-proven core banking system that unlocks trapped customer value, mitigates risk, and drives real-time data insights. It was founded from a desire to provide first-class financial services capabilities for everyone. SaaScada’s configurable product features and transactional ledgers can be connected to any payment scheme, gateway, channel, or FX provider. Its event-driven architecture will provide astrantiaPay with a real-time stream of events for each company account.

“SaaScada’s experience and deep understanding of how to execute a bank in the Swiss financial and regulatory landscape convinced us,” concludes Lukas Wissner. “Looking back, SaaScada was the right starting point on our integration journey, as its experienced team of programmers readily enable open API connections to virtually any data source and endpoint; be it software tools for onboarding, client relationship management (CRM) and transaction monitoring (TM), or accounting systems, payment aggregators and international correspondent banks. Leveraging SaaScada’s proficiency and infrastructure has helped us create an organic whole.”

“Lukas Wissner and the team at astrantiaPay have a distinct vision to make bank account opening simpler for international SMEs,” explains Nelson Wootton, Co-Founder and CEO at SaaScada. “SaaScada is delighted to support astrantiaPay in driving financial inclusivity for its customers, solving complex compliance challenges, and enabling SMEs to thrive.”

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