MODIFI secures investment from SMBC Asia Rising Fund to fuel exports by SMEs

New Delhi: MODIFI, a platform specializing in B2B Buy Now, Pay Later (BNPL) solutions, has successfully completed a 15 million USD funding round led by the SMBC Asia Rising Fund.

The round included participation from existing investors Maersk, Intesa SanPaolo, Heliad, and other global investors.

Sumitomo Mitsui Banking Corporation (SMBC), a prominent Japanese bank, contributed both funding and well-thought-out alignment to the partnership.

Alongside the investment, MODIFI and SMBC have signed a Memorandum of Understanding (MoU) to advance digital solutions for small and medium-sized enterprise (SME) exporters across Asia, aiming to enhance their international trade operations. Through joint initiatives, both companies intend to provide SMEs with cross-border financing solutions.

The announcement, made at the Singapore Fintech Festival, emphasizes MODIFI's plans to expand into markets like China and India, where it already has a presence.

MODIFI’s platform supports SMEs with liquidity and flexible payment terms, assisting them in managing cash flow and growing internationally.

"This funding reflects the trust our investors have in our plans," said Nelson Holzner, CEO and Co-founder of MODIFI. "MODIFI’s solutions help businesses expand internationally."

MODIFI has been identified as one of the Fastest Growing European Fintech Companies in 2024 by Financial Times and Statista.

Since its founding in 2018, MODIFI has facilitated over $3 billion in trade for more than 1,800 companies. Its platform provides SMEs with instant working capital and risk management tools to protect against buyer defaults and fraud.

"Our goal is to equip SMEs with payment solutions that allow them to compete globally," added Holzner. "This funding will help us continue supporting businesses as they navigate international trade."

Keiji Matsunaga, General Manager of SMBC’s Digital Strategy Department, commented, "MODIFI’s global platform enables SMEs to expand their export businesses with flexibility. We look forward to working with MODIFI to support our clients in reaching international markets."