DP World announces Cargoes Finance, the new financing solution for SMEs
DP World, the leading provider of smart supply chain solutions, today launched CARGOES Finance — a new financing solution and fintech platform providing access to finance to support small-to-medium businesses.
CARGOES Finance is a new platform providing exporters, importers, and logistics companies with access to financing solutions to support them in driving global expansion seamlessly. The fintech platform, which comprises a simple and easy to use online application, requires minimal documentation and expedites quick approval decisions supported by intelligent systems.
Key financial solutions available through CARGOES Finance include:
- Trade Finance – Accessing a variety of pre-shipment and post-shipment financing options for international cargo movement, along with extended payment terms.
- Logistics Finance – Accessing financing options for domestic logistics movement, together with receivables and payables financing, and invoice factoring/discounting.
- Inventory Finance – Utilising small-to-medium businesses’ inventory as collateral for financing their businesses, based on the value of stock in its warehouse.
Mike Bhaskaran, Chief Operating Officer, Logistics and Technology, DP World, said: “Growing businesses can often lack the capital and resources required to drive global expansion, often exacerbated by prohibitive financial requirements and copious documentation. We designed CARGOES Finance to mitigate these constraints, unlocking new opportunities for SMEs to compete and reach a global market.”
Sinan Ozcan, Senior Executive Officer, DP World Finance Services, said: “As a result of CARGOES Finance, we’ve seen a number of companies successfully reach more international customers that were previously cost prohibitive to access before. Globally, small-to-medium-sized businesses handle 50 percent of trade, yet only a few have access to funding with little chance of it being approved. CARGOES Finance is levelling the playing field, providing an affordable and reliable alternative that’s expanding global trade.”
DP World will continue to invest in new technologies and solutions such as CARGOES Finance, to streamline and optimise 'glocal' operations for ambitious businesses looking to operate seamlessly and scale faster.
CARGOES Finance is now widely available to shippers and small-to-medium businesses wishing to reach a wider international marketplace and is the latest addition to the CARGOES suite of tools to streamline end-to-end logistics and trade worldwide.
For more information on how CARGOES Finance can help you unlock new ‘glocal’ opportunities, visit https://www.cargoes.com/finance
We are the leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe. Our comprehensive range of products and services covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions.
We deliver these services through an interconnected global network of 129 business units in 55 countries across six continents, with a significant presence both in high-growth and mature markets. Wherever we operate, we integrate sustainability and responsible corporate citizenship into our activities, striving for a positive contribution to the economies and communities where we live and work.
Our dedicated, diverse and professional team of more than 55,000 employees from 134 countries are committed to delivering unrivalled value to our customers and partners. We do this by focussing on mutually beneficial relationships – with governments, shippers, traders, and other stakeholders along the global supply chain – relationships built on a foundation of mutual trust and enduring partnership.
We think ahead, anticipate change and deploy industry-leading technology to further broaden our digital vision to disrupt world trade and create the smartest, most efficient and innovative solutions, while ensuring a positive and sustainable impact on economies, societies and our planet.