40Seas, a platform addressing trade finance and global accounts receivable management for SMEs, recently announced a new strategic partnership initiative geared towards alleviating the complexities of importing goods from China.
The company has partnered with some sourcing agencies and e-commerce fulfillment platforms, including JingSourcing, Portless, NextSmartShip, and China Freight. This initiative comes as businesses seek to capitalize on surging sales demand while providing timely deliveries to consumers. Amazon recently announced record-breaking sales for this year’s Black Friday and Cyber Monday events, making it the company’s largest 12-day holiday shopping period to date, with unprecedented sales volumes and strong participation from SMEs in particular.
JingSourcing, Portless, NextSmartShip, and China Freight join the dozens of companies worldwide that are already using 40Seas’ Global Accounts Receivable platform – which centralizes invoice data in a user-friendly dashboard, allowing companies to offer multiple payment methods, different currencies, and 40Seas’ Order-Now-Pay-Later solution to extend payment terms.
By automatically connecting their ERP or accounting software to 40Seas’ AR platform, companies can experience a streamlined reconciliation process, matching invoices with purchase orders and delivery receipts in real time while collecting payments via credit card, direct debit or digital wire transfers in different currencies worldwide.
The platform also enables companies to offer extended payment terms of up to 90 days to their customers without absorbing any credit risk. 40Seas is available as an API or stand-alone platform, both of which can be embedded into checkout portals to improve business flow and deliver more convenience to customers.
In 2023, 40Seas raised $117 million, including a $100 million credit facility from ZIM. Headquartered in New York with offices in Shenzhen, Toronto, and Tel Aviv, 40Seas was founded by industry hands with more than 60 years of combined experience in cross-border payments, logistics, and trade financing.
