PrimaDollar is delighted to announce the appointment of Guy Willans as Chief Operating Officer of PrimaDollar Group.
Guy has joined PrimaDollar from TradeRiver (UK) Ltd, another UK trade finance fintech. As an experienced chief operating officer, Guy brings with him a wealth of experience.
PrimaDollar is growing quickly and there’s a visible roadmap to global growth and profitability, underpinned by strong finances and cutting-edge technology.
“PrimaDollar is one of the most exciting Fintech platforms globally, addressing the emerging gaps in trade finance. Unlike most Fintech platforms, PrimaDollar has focussed first on getting the “Fin” right. With the financial model fully proven and operating, the focus is now on further improving the “Tech”. With clients in 19 countries and growing, Primadollar’s robust technology solution is now being rolled out – allowing PrimaDollar to address the exceptional scale of the global opportunity in trade finance.”
Tim Nicolle, PrimaDollar Group CEO comments:
“We are really pleased that Guy has agreed to join the group. With the trade finance gap in emerging markets now estimated at over US$1.4 trillion and growing, exporters and importers both need new financial solutions. Meeting those needs and managing the scale-up of our platform is a big challenge, and Guy is undoubtedly one of the best.”
PrimaDollar provides trade finance to exporters (typically in emerging markets) who have creditworthy customers (mainly in the developed markets). The Asian Development Bank has estimated the financing gap at US$1.4 trillion and growing, as banks find it increasingly difficult to provide cross-border financial services to emerging market exporters.
Exporters increasingly have to provide credit to their buyers, working without letter of credit or down-payments. This creates difficulties because of the risks, the adverse cash flow, and compliance with local banking regulations. Yet exporters who offer credit to their buyers can win bigger orders at better margins – and build longer term relationships with their customers.
PrimaDollar provides a simple and standardised service. PrimaDollar’s products provide exporters with a full capability to offer credit to buyers without down-payments or letters of credit. PrimaDollar pays exporters upfront against their shipping documents and collects from the buyer later (without recourse). If the exporter needs a pre-shipment guarantee (like a letter of credit), PrimaDollar can provide this.
Chief Operating Officer