Supply @ME Capital PLC Strategic Agreement to launch in The United States (9219C)
October 22 2020 - 5:09AM
UK Regulatory
TIDMSYME
RNS Number : 9219C
Supply @ME Capital PLC
22 October 2020
22 October 2020
Supply@ME Capital plc
(The "Company" or "SYME")
Strategic agreement to launch in the United States
Supply@ME Capital plc, the innovative fintech platform which
provides a unique, market leading Inventory Monetisation (c)
service to European manufacturing and trading companies, is pleased
to announce that, following a joint market assessment, the Company
has signed a strategic agreement with Mr. Anthony Brown and The
Trade Advisory to launch the Supply@ME platform in the United
States.
The Trade Advisory specialises in facilitating US international
trade and finance, bringing together global and local lenders and
investment funds, and businesses looking to expand their
cross-border activities. It has helped its clients to launch new
trade finance products generating hundreds of millions of dollars
in additional trade finance revenues.
Anthony Brown, Founder and CEO of The Trade Advisory, has more
than thirty years of international supply chain finance experience
as a trader, lender, shipper, supply chain and business executive.
He pioneered Purchase Order Financing in the US and headed
International Factoring for GMAC Commercial Finance (now Ally
Financial) where he managed a $700m international factoring
business, founded and managed the US international divisions of
Bibby Financial Services, First Capital, and Delta Trade Finance,
and led Maersk Trade Finance in the U.S. Previously, Mr. Brown
managed US International Trade Finance, a predecessor bank of JP
Morgan Chase.
Both parties believe that there is a unique opportunity to
develop the Supply@ME's Inventory Monetisation service in the
United States. In this regard, The Trade Advisory has made the
following assessment of the potential of the US market:
-- the number of asset-based lending operators in the region is
estimated at 114 according to the Secured Finance Network (formerly
the Commercial Finance Association), whereas those lenders offering
to finance inventory by purchasing it from suppliers and selling it
to buyers (the Supply@Me inventory monetisation "true-sale" model)
total less than five;
-- In August 2020 the US Census Bureau for manufacturing and
trade reported that US inventories in that month were approximately
$1.9 trillion;
-- since no specific statistics are published for
inventory-based financing, from the above The Trade Advisory
believe a conservative estimate of the inventory finance market in
the United States to be in excess of $1 trillion - that is,
approximately half of the value of US inventories and less than
half of the value of Commercial & Industrial loans (excluding
real estate).
This Strategic Agreement is an important step towards the
roll-out of Supply@ME's platform in the United States, commencing
with an inventory monetisation pilot programme involving
manufacturing and retailing client companies from The Trade
Advisory's commercial network.
Alessandro Zamboni, SYME Chief Executive, commented, "The United
States is an enormous potential market for Supply@ME. Our Platform
can play a distinctive role supporting US companies via innovative,
scalable transactions. Similar facilities have recently been
announced by Bank of America and Macy's. This is further evidence
that our inventory monetisation platform can really support
corporates to manage their working capital more efficiently and
continue to grow.
I'm delighted that Mr Brown and his business, The Trade
Advisory, share my vision, and recognise the impact that Supply@ME
can have in the United States."
Plans for SYME's international expansion are at the core of the
Company's business strategy. The Company will continue to update
investors as activities progress.
Notes
Supply@ME enables businesses to generate cashflow, without
incurring debt, by monetising their existing stock. Before a
business has found an end-customer for its inventory, the Supply@ME
platform enables them to sell ("monetise") their stock and receive
cash immediately to boost their working capital. The Supply@ME
service enables strong companies to improve their working capital
cycle. SYME does not monetise inventory for companies in financial
difficulty or with inventory that they are struggling to sell.
Contacts
Alessandro Zamboni, CEO, Supply@ME Capital plc,
investors@supplymecapital.com
Paul Vann, Walbrook PR Limited, +44 (0)20 7933 8780
Brian Norris, Cicero/AMO, +44 (0)20 7947 5317
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