By Finbarr Bermingham, Global Trade Review
Stenn Financial, an invoice financing firm, has launched a US $300 million fund to tap the manufacturing hubs of emerging Asia that are “pretty much untouched by banks”.
The UK-based company, with an office in Singapore, has combined its own capital with that of alternative asset manager Crayhill Capital Management to launch a platform for acquiring 120-day trade receivables from SMEs in China and Southeast Asia.
The launch comes at a time when many traditional financial institutions are vacating the space as they de-risk their balance sheets and focus their resources on core sectors and geographies. The short-term funding is designed to free up capital for these manufacturers, typically in the consumer goods space, to continue meeting orders from large retailers in the west.
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About Stenn International Ltd.
Stenn International Ltd. is a UK-based, non-bank trade finance provider specialized in cross-border trade. Stenn’s trade finance solutions are comprehensive and can be combined to cover the entire supply chain from purchase order to delivery of goods. Innovative practices allow Stenn to finance in sectors and geographic regions currently unserved in global trade. The company operates globally with offices in Los Angeles, Dallas, New York, London, Hamburg, Stuttgart, Singapore, Hong Kong, Shanghai, Guangzhou and Chongqing. Learn more at www.stenn.com or follow us on LinkedIn, Twitter and Facebook.
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