Germany-based fintech MODIFI has announced that it secured USD 15 million in a funding round led by SMBC Asia Rising Fund. With participation from existing backers Maersk, Intesa Sanpaolo, Heliad, and other global business investors, the funding round brought to MODIFI USD 15 million.

The company intends to utilise the capital to scale Asian exports for small and medium-sized enterprises (SMEs) and solidify its position in cross-border B2B payments and trade finance. In addition, MODIFI plans to expand its operations across Asia, including in China and India. Most recently, MODIFI also entered into a strategic collaboration with PingPong to launch a global B2B Buy Now, Pay Later (BNPL) global system.

At that time, the two companies intended to optimise B2B cross-border payments and digital trade finance, centring their efforts on worldwide trade digitalisation via PingPong’s payment reach across over 200 countries and MODIFI’s knowledge in trade finance and business solutions. Investing in small businesses SMBC, which operates as a bank and financial participant in the APAC region, is set to provide both capital and strategic alignment to the collaboration with MODIFI. In addition to the equity investment, MODIFI and SMBC signed a Memorandum of Understanding (MoU) to further advance digital solutions that assist SME exporters across Asia in scaling their international trade operations.

By working on a suite of joint initiatives, MODIFI and SMBC focus on enabling SMEs with optimised cross-border financing solutions. Furthermore, the newly added capital is set to accelerate MODIFI’s growth, especially in markets such as China and India, where the company already expanded its operations. MODIFI’s platform offers liquidity and flexible payment terms to SMEs, assisting them in augmenting cash flow and scaling their international reach.

When commenting on the announcement, representatives from MODIFI underlined that the funding received from its investors highlights their company’s capabilities, with it planning to deliver solutions that can support businesses successfully entering new markets and expanding globally. Source: Link .