Supply@ME Capital (LON:SYME) has signed a strategic agreement with Anthony Brown and The Trade Advisory to launch its inventory monetisation platform in the US.
The Trade Advisory specialises in facilitating US international trade and finance.
Anthony Brown, founder and CEO of The Trade Advisory, has more than thirty years of international supply chain finance experience as a trader, lender, shipper, supply chain and business executive, Supply@ME said, adding that he pioneered Purchase Order Financing in the US and headed International Factoring for GMAC Commercial Finance (now Ally Financial).
Both parties believe that there is a unique opportunity to develop Supply@ME’s Inventory Monetisation service in the United States, the group added.
The Trade Advisory estimates there are 114 asset-based lending operators in the US with an inventory finance market worth more than US$1trn.
Supply@ME said the strategic agreement will commence with an inventory monetisation pilot programme involving manufacturing and retailing client companies from The Trade Advisory’s commercial network.
In a statement, Alessandro Zamboni, Supply@ME chief executive, said: “The United States is an enormous potential market for Supply@ME. Our Platform can play a distinctive role supporting US companies via innovative, scalable transactions.
“Similar facilities have recently been announced by Bank of America and Macy’s. This is further evidence that our inventory monetisation platform can really support corporates to manage their working capital more efficiently and continue to grow.”