MODIFI acquires Seawise Capital's trade finance and SaaS business in India

Mumbai, January 25th, 2022 Global fintech MODIFI and Seawise Capital today announced that MODIFI acquired Seawise Capital's trade finance and SaaS business in India. The transaction relates to the future business of the Seawise portfolio. The parties agreed to keep further details private.

MODIFI is the only digital trade finance platform for SMEs that spans the three major trading regions of Europe, Asia and North America - a cluster which encompasses approximately 80% of global imports and exports. It provides SMEs with simple digital solutions to finance and manage their trades, protect them from counterparty risk, and easily track their shipments.

"We are thrilled to welcome Seawise customers and employees to MODIFI. It's impressive to see the products Seawise has developed over the years, and we are excited to join forces and solve global trade for SME exporters in India. Over the past 18 months our business here has grown more than 2100%, making India our largest single market. Our strong presence in the region and an experienced local team will ensure a smooth transition and excellent customer service" says MODIFI CEO and Co-Founder Nelson Holzner.

"This is an exciting next step for us as we join forces with MODIFI. Over the last 3 years, we have built Seawise into a leading trade finance player in India offering working capital solutions and supply chain software to exporters. This deal will capitalise on everything we have built so far, giving our customers access to more liquidity and improving the way they participate in global trade" says Seawise CEO and Co-Founder Kunal Rajvanshi.

MODIFI currently operates out of 9 offices in Berlin, Amsterdam, New York, Delhi, Mumbai, Shenzhen, Hong Kong, Dubai and Dhaka.

About MODIFI:

MODIFI is a global fintech company that helps small and medium sized businesses (SMEs) finance and manage their international trades. Serving over 1100 buyers and sellers across more than 40 countries, MODIFI offers simple digital solutions that enable SMEs to trade like large corporates. Through its digital platform the company empowers businesses to grow, fostering strong international partnerships and benefitting local economies. To see how small and medium sized businesses can grow with MODIFI, visit www.modifi.com or follow us on LinkedIn and Twitter.

Press contact: Elena Ermishina (communication@modifi.com)

About Seawise Capital:

Seawise is reinventing global trade for SMEs, by offering trade finance and technology products to help them increase their trading volumes and manage their exports efficiently. We are addressing the $2 trillion trade finance gap and provide digital working capital solutions to Indian SMEs, who are exporting goods to the UK, Europe, and the US. We also provide our customers with a SaaS product to track their shipments, get paid faster, and reduce risk in international trade. Our mission is to empower small businesses to trade confidently across borders, increase the visibility of their supply chain, and reduce tied-up working capital. Seawise was founded by Kunal Rajvanshi, Vidur Jain and Manish Pal in 2019 and is a Y Combinator startup.

Press contact: support@seawisecapital.com

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Elena Ermishina
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