Supply@MECapital PLC (LON:SYME) has said that by the end of the first quarter of 2021 it should have completed its first Open-Funding securitisation transaction.
In a statement alongside results for the business before Supply@ME reversed into it in March 2020, the inventory financing platform said it also expects to deliver on Captive-Funding and Self-Funding initiatives this quarter.
“There is a large and growing international addressable market for inventory funding. Supply@ME is aiming for its Inventory Monetisation Platform to be the leading fintech operator in the sector.
“We expect the number of Client companies being sourced and monetised to continue to grow rapidly, in direct proportion to the funding available. The model is highly scalable as can be seen by the availability of partners in the UK, Middle East and US to join with the Company to develop an international Platform.
“In 2021 Supply@ME aims to have started operations in each of these regions,” the group said.
Abal Group, which was a shell, changed its name to Supply@ME in March 2020.
Abal had cash balances of £0.08mln at the end of 2019 and posted a loss for that year of £685,000.