Incomlend Secures USD 20 million in Series A equity funding round led by Sequoia
Incomlend’s global invoice exchange platform connects importers and exporters with world-class institutional investors. Incomlend enables exporters to get paid early for supplied goods and services while importers are capable of extending payment terms and minimize the risk of supply chain disruption.
FREMONT, CA: Incomlend, a global online invoice trading platform that aims to democratize access to trade finance, closed a US $20 million Series A round led by Sequoia India. The CMA CGM Group, a world leader in shipping and logistics, has bolstered the existing partnership with Incomlend by also participating in the round, to create effective and innovative synergies between the financial and logistics flows, thus facilitating access to trade finance.
Incomlend’s global invoice exchange platform connects importers and exporters with world-class institutional investors. Incomlend enables exporters to get paid early for supplied goods and services while importers are capable of extending payment terms and minimize the risk of supply chain disruption. Meanwhile, investors can access an attractive new alternative asset class and boost return on capital.
The company plans to use the Series A round to drive expansion into Europe, Southeast Asia, and North Asia, while further advancing its technological development in state-of-the-art digital invoice finance underwriting and processing to fuel the real economy. Incomlend’s forward-looking model is designed to solve the credit crunch hampering growth among cross-border trading companies globally.
“Incomlend’s mission is to increase financial inclusion on non-recourse basis for companies of all sizes across the globe while offering investors real alternatives non-correlated to financial markets to existing asset classes” stated Morgan Terigi, CEO and Co-founder of Incomlend and further states: “International trade is the cornerstone of Asia’s economy, and we aim to help exporters develop their business by providing alternative working capital finance when and where they need it. Our partnership with CMA CGM and Sequoia India is a major milestone for Incomlend’s growth and drive toward creating a stronger, safer and more efficient trade finance environment globally.”
