During the Global ABS Conference in Barcelona, Spain, Demica, an independent provider of working capital solutions, has announced the launch of its new Receivables Finance Platform.
The Fintech reports that it is currently growing at 40% a year. Today, Demica works with over 400 corporate customers globally, having financed over $12 billion.
The Demica platform provides reporting and payment support services to the world’s largest trade receivables banks and investors.
The company explains that the new release of their online service allows banks to go beyond trade receivable securitization structures and configure the full range of receivables purchase structures using credit insurance if required.
The update is the result of extensive investment in the company’s Supply Chain Finance platform which, in the past twelve months alone, has led to five major global banks selecting the service as their white label partner, says Demica.
Matt Wreford, CEO of Demica commented on the update:
“The launch of new Receivable Finance Platform is a significant milestone for us. Taking advantage of over 15 years’ experience working with the world’s leading trade banks, we have delivered a unique platform able to transform the customer experience for both large multinationals and banks. We are excited to be showcasing the platform at the Barcelona conference and look forward to working with our customers on its deployment.”