MODIFI Raises $24 Million, Brings Valuation to $120 Million

MODIFI has raised $24 million in funding raising its valuation to $120 million, according to a company release.

MODIFI is a global fintech company that helps SMEs finance and manage their international trades, currently serving over 1,000 buyers and sellers across more than 40 countries

The funding round was led by Heliad Equity Partners with a co-investment from Neva SGR, the VC vehicle of Italy’s banking group Intesa San Paolo. Existing investors also participated, including Global Founders Capital, Maersk Growth, and Picus Capital. The funds will be used to grow MODIFI’s digital trade finance platform into a global trade management hub. MODIFI currently serves the three major trading regions of Europe, Asia, and North America – a cluster that encompasses approximately 80% of global imports and exports. The new funding will enable MODIFI to facilitate all trade-related activities in one place. This includes finding new trade partners and managing foreign exchange risk, among other things.

MODIFI CEO and co-founder Nelson Holzner, stated:

“Smaller businesses lack the tools and know-how to trade with the ease and comfort enjoyed by their larger counterparts. The solutions available out there are fragmented and don’t approach the problem holistically. We have successfully digitized the trade finance industry and are now developing our platform into a comprehensive trade management hub that will empower SMBs to take control of their global trade activities. With Heliad Equity Partners and Neva we are delighted to have two new strong partners complementing our existing shareholder base.”

Faulk Schaefers, CEO of Heliad Equity Partner, said they are very happy to support the MODIFI team in their journey to become the leading trade finance and management platform for SMEs.

“The ability to raise funds and attract investors and industry partners worldwide in a very short time confirms MODIFI’s enormous potential to become a billion euro company. It’s clear that global trade is in need of digital solutions. MODIFI has already done a lot to simplify and automate paper-heavy trade finance processes, and we are looking forward to seeing the fintech company tackle a broader set of challenges related to global trade,” added Mario Costantini, CEO of Neva SGR.

MODIFI launched in the US, Netherlands, and Bangladesh in the first half of 2021, after raising a $60 million debt facility from Silicon Valley Bank.

The company currently operates out of nine offices in New York, Berlin, Amsterdam, Delhi, Mumbai, Dhaka, Shenzhen, Hong Kong, and Dubai.

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