Global Fintech Expands Trade Finance Offering
(2 February 2022 – Global) Global non-bank foreign exchange (FX) and Fintech trade finance provider, Ebury, is now offering Hong Kong SMEs unsecured trade finance.
Ebury anticipates bullish demand for its trade finance product given it’s pertinence to the working capital needs of Hong Kong small businesses, positioned as a complementary product for their payables with facility sizes up to US$5 million. The British headquartered Fintech is emulating its successful Australian competitive positioning strategy to enter the non-bank trade finance lending market in Hong Kong.
Ebury is valued at over US$1 billion offering FX and trade finance capabilities across 130 countries with offices in 20 markets. The firm first began offering FX and risk management solutions to Hong Kong SMEs in 2019.
“Our experience in other similar markets is that growth in our book accelerates over time. In Australia, the book has grown more than 300 percent in 2021 with the majority of our clients using it to finance supply chains into north Asia” commented Ebury Asia Pacific Managing Director, Rick Roache.
“This Hong Kong trade finance launch is an important part of our regional growth strategy. Once this business is established it will serve as a launch pad for Ebury into mainland China” Mr Roache added.
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