MODIFI Secures $15 Million Funding, Partners with SMBC to Boost SME Exporters in Asia
- MODIFI raises $15 million in funding led by SMBC to accelerate its expansion into high-growth markets like China and India.
- MODIFI and SMBC partner to offer digital cross-border financing solutions, empowering SMEs to expand their international trade operations.
MODIFI, a global player in B2B Buy Now, Pay Later (BNPL) solutions, has successfully raised $15 million in a funding round led by the SMBC Asia Rising Fund, with participation from key existing investors like Maersk, Intesa Sanpaolo, and Heliad.
The new capital will fuel MODIFI’s expansion into high-growth markets such as China and India, where the company already has a strong presence.
Sumitomo Mitsui Banking Corporation (SMBC), one of Japan's top financial institutions, not only contributed to the equity investment but also entered into a strategic partnership with MODIFI. The two companies signed a Memorandum of Understanding (MoU) to collaborate on enhancing digital financial solutions for small and medium-sized enterprises (SMEs) in Asia. The partnership aims to empower SMEs by offering them cross-border financing tools to streamline trade and increase international competitiveness.
According to the official press release shared with Newzchain, this announcement was made during the Singapore Fintech Festival, where MODIFI demonstrated its commitment to driving innovation in the global fintech space. The infusion of funds will support MODIFI’s ongoing mission to provide flexible payment solutions and critical liquidity to SMEs, helping them manage cash flow and grow their businesses beyond borders.
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Nelson Holzner, CEO and Co-founder of MODIFI, expressed confidence in the company’s future and stated:
"The funding underscores the strength of our business and the confidence our investors have in our vision for the future. As global commerce evolves, MODIFI is at the forefront, providing innovative solutions that empower businesses to scale and succeed across borders."
Founded in 2018, MODIFI has grown rapidly, facilitating over $3 billion in trade for more than 1,800 companies globally. The company’s platform offers instant working capital approval and integrates risk management features that protect businesses from buyer defaults and fraud.
"By transforming cross-border supply chain finance for the digital age, we believe MODIFI supports SMEs in scaling their export businesses with ease," Keiji Matsunaga, General Manager of SMBC's Digital Strategy Department, praised the collaboration.
With this latest funding, MODIFI aims to redefine global trade finance, ensuring that businesses of all sizes have the financial tools they need to thrive in the international market.
Edited by Harshajit Sarmah
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