Irish Fintech Accelerated Payments has announced the laung of a trade finance product called AP Trade Finance (APTF).
Accelerated Payments is a digital working capital platform with offices in Dublin, London, Toronto, and Florida. The company offers access to credit due to the strength of their own balance sheet.
APTF is described as being built to support global at scale.
Accelerated Finance says the launch of APTF comes as small and medium-sized enterprises (SMEs) struggle with geopolitical challenges as well as lingering COVID concerns. The company cites a report that indicates 43% of SME owners have been impacted by supply chain issues in the past year, with many struggling to obtain cost-effective products for their businesses. At the same time, one in four SMEs has seen supplier prices almost double in recent years, making it more challenging to remain competitive.
Ian Duffy, CEO of Accelerated Payments, said they are reimagining the way businesses operate on a global scale by providing end to end working capital solutions.
Since its inception, Accelerated Payments reports that it has advanced more than Euro one billion worth of invoice financing to over 350 clients, covering 1,300+ debtors across more than 40 countries.
