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DP World expands finance offering with TuningBillDP World expands finance offering with TuningBill

DP World has partnered with TuningBill to offer finance and banking services to importers, exporters and logistics businesses.

Gary Howard, Middle East correspondent

August 9, 2022

1 Min Read
DP World signage
DP World

The partnership between DP World‘s Fintech platform CARGOES Finance By DP World and B2B neobank TuningBill will bring TuningBIll’s secured and unsecured BNPL loans to DP World customers.

As well as the loan services, DP World customers will gain access to TuningBill’s non-lending services such as warehousing and fulfilment, foreign exchange and remittances. TuningBill can open bank accounts for its customers in multiple currencies, helping those customers who deal with multiple currencies when executing cross-border trades.

CARGOES Finance gives lenders access to data on cargo movements to add to their due diligence and improve confidence in lending.

TuningBill was set up to serve importers, exporters and ecommerce traders that can face shortfalls in funding from other banks and had a recent $22m investment from Fasanara Capital.

Sinan Ozcan, Senior Executive Officer, DP World Financial Services Limited: “In bringing TuningBill onto the CARGOES Finance platform, we are offering traders globally greater access to critical financing options. Working with TuningBill, we aim to address the global trade finance gap.”

Asit Beesen, Founder, TuningBill: "We are humbled by this strategic partnership, a major milestone in our journey. We are committed to serving the loan request overhang, growing the book to north of $200m in the near-term, further enhancing our technology, and most importantly, scaling our non-lending revenues."

Related:DP World reports volume growth of 3.5% in Q2

About the Author

Gary Howard

Middle East correspondent

Gary Howard is the Middle East Correspondent for Seatrade Maritime News and has written for Seatrade Cruise, Seatrade Maritime Review and was News Editor at Lloyd’s List. Gary’s maritime career started after catching the shipping bug during a research assignment for the offshore industry. Working out of Seatrade's head office in the UK, he also produces and contributes to conference programmes for Seatrade events including CMA Shipping, Seatrade Maritime Logistics Middle East and Marintec. 

Gary’s favourite topics within the maritime industry are decarbonisation and wind-assisted propulsion; he particularly enjoys reporting from industry events.

Conferences & Webinars

Gary Howard regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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