Incomlend, a global online invoice trading platform, has been recognized at the Global Trade Review (GTR) Leaders in Trade Awards 2020 as the “Best Fintech Startup”. GTR recognizes global top-performing companies in trade, commodity, supply chain, export finance, and fintech markets.
Since launching in December 2016, Singapore-based Incomlend reports having onboarded more than 450 suppliers and buyers in 50 countries, completed over 2,300 transactions, and funding more than US$300 million in receivables.
Incomlend said the award reaffirms its status as a “reliable world-class trade finance alternative to traditional lenders in the global online discounting space.”
Incomlend’s global invoice platform helps traders diversify their funding sources and improve cash flow while investors are offered stable return and higher liquidity as invoice cycles are under 120 days. Incomlend notes that invoice financing is uncorrelated to financial markets.
“We are extremely grateful to be recognized by the prestigious GTR Leaders in Trade Awards 2020, as we continue to grow within the global online invoice trading space. This win is a very prominent moment for us, officially propelling Incomlend to the Global Trade Finance arena among major trade players and large multinational institutions. Our Incomlend journey started 4 years ago with the aim to improve financial inclusion for companies worldwide. This goal is all the more actual at present, with the trade finance gap deepening more as the Covid-19 crisis takes its toll on the world economy. Our success demonstrates we are heading in the right direction and that Incomlend has now become an internationally recognized alternative trade finance provider.”