VoloFin, a Singapore-based supply chain fintech, has raised USD 50 million to enhance trade finance solutions for Indian exporters, with a focus on small and medium-sized enterprises (SMEs). The funding will allow the company to provide secure and efficient lending options while leveraging technology to optimise supply chain management. The identity of the investor remains undisclosed.
This funding marks a significant step in VoloFin's growth strategy, enabling the firm to bridge the trade finance gap for exporters who are pivotal to India's economy. VoloFin aims to increase this funding ceiling to USD 150 million over the next two to three years, highlighting its commitment to scaling operations and addressing market demands.
The announcement coincides with a revival in Indian fintech investment activity. In Q3 2024, the sector saw a 66% year-on-year increase in funding, reaching USD 778 million, with USD 471 million raised in the same quarter of the previous year. On a quarterly basis, fintech funding more than doubled from USD 293 million in Q2 2024. VoloFin's expansion comes as this sector demonstrates significant growth potential.
The company emphasises its dedication to meeting client needs while adhering to regulatory compliance. This investment aligns with VoloFin’s mission to support Indian exporters by providing innovative financial solutions that empower their global competitiveness.
Original article published by The Paypers. Read here or click the PDF below.
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