The digital trade finance platform Modifi, which focuses on supporting small and medium-sized enterprises (SMEs), has successfully raised $15 million in new funding to propel its growth strategy. This latest funding round was spearheaded by Japan’s Sumitomo Mitsui Banking Corporation (SMBC) through its Asia Rising Fund, alongside Incubate Fund, and contributions from established investors like Maersk, Heliad Equity Partners, and Neva SGR, the venture capital arm of Intesa Sanpaolo. Alongside this financial injection, Modifi entered a Memorandum of Understanding (MoU) with SMBC aimed at enhancing digital solutions that facilitate SME exporters in expanding their global trade activities. Through this partnership, Modifi is set to offer its buy now, pay later (BNPL) solutions and integrated risk management tools to SMBC’s corporate export clients, ultimately improving their cash flow and extending their international reach.
Established in 2018 and headquartered in Berlin, Germany, Modifi seeks to leverage this new equity to strengthen its penetration into high-growth markets such as China and India. These markets are areas in which Modifi has already started to carve out a presence, following its 2022 acquisition of Seawise Capital’s trade finance and Software-as-a-Service (SaaS) operations. The additional funding will bolster joint initiatives aimed at providing SMEs with cross-border financing solutions. To date, Modifi has facilitated over $3 billion in global trade across more than 1,800 companies spanning over 55 countries. This latest round of funding is subsequent to a €20 million Series B in 2021 and a $145 million debt financing facility later that year, arranged with Silicon Valley Bank and Solarisbank.
The growing focus on digital trade finance solutions tailored for SME needs, particularly those engaged in international trade, is evident from Modifi’s strategic partnerships and ambitious expansion plans. The narrative underlines a shared understanding of the critical role that financing solutions play in optimizing cash flow and managing risks. Through innovation and strategic collaborations, Modifi has emphasized its commitment to supporting SME growth. As the company continues to advance its services and broaden its market footprint, the focus remains on enabling SMEs to navigate and thrive in the complex landscape of global trade.
