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DP World moves into trade finance for SMEs

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DP World has launched CARGOES Finance — a new financing solution and fintech platform providing access to finance to support small-to-medium businesses.

CARGOES Finance is a new platform providing exporters, importers, and logistics companies with access to financing solutions to support them in driving global expansion seamlessly. The fintech platform, which comprises an online application, requires minimal documentation and expedites approval decisions supported by intelligent systems.

The financial solutions available through CARGOES Finance include, trade finance, logistics finance, and inventory finance.

“Growing businesses can often lack the capital and resources required to drive global expansion, often exacerbated by prohibitive financial requirements and copious documentation. We designed CARGOES Finance to mitigate these constraints, unlocking new opportunities for SMEs to compete and reach a global market,” said Mike Bhaskaran, DP World COO, Logistics and Technology.

“As a result of CARGOES Finance, we’ve seen a number of companies successfully reach more international customers that were previously cost prohibitive to access before. Globally, small-to-medium-sized businesses handle 50% of trade, yet only a few have access to funding with little chance of it being approved.”

CARGOES Finance is now widely available to shippers and small-to-medium businesses wishing to reach a wider international marketplace and is the latest addition to the CARGOES suite of tools to streamline end-to-end logistics and trade worldwide.
 

 

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