DP World, the leading provider of smart supply chain solutions, today announced a partnership between CARGOES Finance By DP World and Germany-based trade finance group Tradewind Finance to provide working capital solutions to companies looking for trade finance.
CARGOES Finance By DP World is a fintech platform that brings together importers, exporters and logistics companies around the world who want to borrow from financial institutions. It gives lenders access to data on cargo borrowers' movements so they can lend with confidence and help the industry bridge the 1.5 trillion-dollar trade finance gap.
DP World customers that own cargo and beyond will now be able to apply for Tradewind’s export factoring product and more on CARGOES Finance, that ultimately opens a new revenue stream for Tradewind to scale their business, provide them access to trade data to better risk analysis and mitigation, as well as visibility on underlying trade.
Sinan Ozcan, Senior Executive Officer, DP World Financial Services Limited, said: “Trade Finance is not as accessible as it should be, particularly for millions of small to medium-sized businesses. Resolving this issue is critical for all participants in the Trade Finance industry. The sector accounts for an important portion of global GDP, so its performance affects the world economy. Our partnership with Tradewind will further help our mission to level the playing field for exporters, importers, and logistics companies, and help them grow their contribution to global trade.”
The collaboration allows for access to scarce working capital, especially for small to medium-sized enterprises that handle almost 50 percent of global trade. Both institutions aim to enable trade on a global scale. Access to liquidity is imperative for the growth and stability throughout the supply chain, particularly for small and medium enterprises, who, despite making up for the bulk of the global economy, remain significantly underserved and are perceived to be riskier from a traditional banking perspective due to lack of visibility on the underlying trade.
Tradewind Finance has offices strategically located in over 14 countries, providing an extensive array of finance offerings including export factoring and supply chain finance solutions. Companies seeking finance will have an easier reach to Tradewind via CARGOES Finance. Aligned to major trade corridors, Tradewind will provide liquidity to buyers requiring increased payment terms and suppliers wishing to receive their payments earlier.
Peter Maerevoet, Senior Executive Officer, Tradewind Middle East Limited and CEO Tradewind Asia, said: “We’re delighted to embark on this program with CARGOES Finance by DP World. Both groups are aligned on their desire to promote and enable global trade, and such a formidable partnership will allow us to safely distribute cost-effective capital to manufacturers and traders requiring financial support, while DP World fulfills its objective to enable global trade through digital innovation.
“Partnering with a behemoth such as DP World Group will provide greater visibility to everyone along the supply chain, and will facilitate global trade at a greater pace. Such collaboration will not just provide trade and credit risk support, but will also provide visibility all along the supply chain to Tradewind when the transactions are funded, mitigating potential risks from the funder’s side.”
For more information on CARGOES Finance By DP World, or to request a demonstration, please visit: https://cargoes.com/finance
Financial services offered on the CARGOES Finance By DP World platform are provided by DP World Financial Services Limited, which is regulated by the DFSA.
Tradewind Middle East Limited (“Tradewind”) is a private company, limited by shares incorporated under the laws of the Dubai International Financial Centre (the “DIFC”) under registration no. CL1846 and having its office at N1903, Emirates Financial Towers, DIFC, Dubai, United Arab Emirates. Tradewind is authorized and regulated by the Dubai Financial Services Authority (the “DFSA”) under firm no. F002467.
Tradewind Finance, headquartered in Germany, maintains a seasoned workforce of over 170 employees and a global network of offices, including Bangladesh, Brazil, Bulgaria, China, Hong Kong, Hungary, Iceland, India, Pakistan, Peru, Turkey, UAE, and the USA. Since its inception 20 years ago, Tradewind Finance has contributed to driving global trade by providing practical, trade-based liquidity management solutions to small and medium enterprises. Tradewind Finance entered the UAE market in 2015 and is committed to providing innovative receivables finance solutions designed to meet individual business needs. With a strong reputation for quality service and global capability, the company offers scalable funding and financing options to businesses looking to diversify their borrowing sources.
About CARGOES By DP World
"A Suite Of Enterprise Services And Products For The World Of Logistics & Trade"
In a continuously moving world with a growing population, the need for smarter trade is more important than ever before. DP World created our digital service CARGOES based on over 40 years of experience in logistics to solve challenges in the supply chain that create inefficiency and slow down trade. CARGOES provides solutions that support shippers with tracking to ports around the world. It also helps nations manage their operations or regulatory logistics needs.
If there is an issue you need to solve, we're ready to hear from you. Together, we can make trade better.
About CARGOES Finance By DP World
Financial services offered on the CARGOES Finance By DP World Platform are associated with CARGOES by DP World (A suite of enterprise services and products for the world of logistics and trade) and provided by DP World Financial Services Limited. DP World Financial Services Limited is a company registered under the Dubai International Financial Centre (DIFC) and regulated by Dubai Financial Services Authority (DFSA).
DP World is a leading enabler of global trade and an integral part of the supply chain.
We operate multiple yet related businesses – from marine and inland terminals, maritime services, logistics and ancillary services, to technology-driven trade solutions.
We have a portfolio of over 150 operations in over 45 countries across six continents, with a significant presence in both high-growth and mature markets. We aim to be essential to the bright future of global trade, ensuring that everything we do contributes positively and sustainably to both the economy and society.
Our dedicated team of more than 46,000 employees from 120 countries cultivates long-standing relationships with governments, shipping lines, importers and exporters, communities, and many other important constituents of the global supply chain, providing quality value-added services today and tomorrow.
Container handling is the company’s core business and generates more than 50% of its revenue. In 2018, DP World handled 71.4 million TEU (twenty-foot equivalent units) across our portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 91 million TEU is expected to rise in line with market demand.
By thinking ahead, foreseeing change and innovating, DP World aims to create the most productive, efficient and safe trade solutions globally.