Our board and shareholders have decided to focus on our fintech enterprise SaaS business, and therefore to exit export trade finance in the form that we offer it today.
PrimaDollar has built two market-leading businesses:
- In export finance: with clients in 40 countries and a track record of rapid scale, strong economics, simple and transparent pricing and high levels of reliability.
- In supply chain trade finance: based upon our category-leading fintech platform, which we have launched in the last few months and which is already landing major clients and which is proving to be a very exciting new opportunity. The enterprise SaaS market offers no practical solutions today for larger and mid-sized importers looking to take control over how their international suppliers are funded and paid.
We spent some time reviewing the market options, and we are delighted to have engaged with the team at MODIFI – who we believe will offer the best new home for our existing clients going forward.
In our view, market conditions in credit markets will become more challenging through 2021. We wish MODIFI and their professional team the best of luck.
To all our export finance clients:
- Please contact your usual relationship manager to discuss the transition over to the MODIFI team.
- We have asked MODIFI to match both advance rate and price for your future trades, but please do note that MODIFI will be taking on business at their own discretion.
Please see below the press release related to this transaction: