Kountable, which provides trade-finance to SMEs in growing economies around the world, announced today it will receive up to $150 million in funding from an asset manager focused on private credit.
As a pioneer and leader in the platform investment space, this firm has been an early partner for many growing, innovative fintech platforms. Trade finance is a multi-billion dollar market with the opportunity to create high-yield, short-term assets within the global supply chain.
“Trade finance is the lifeblood of the global economy but is ripe for disruption by a fintech platform such as Kountable. It took the vision of a team like theirs to see how the Kountable platform unlocks this market by using social connectivity, mobile technology and big data to further de-risk these transactions,” said Chris Hale, Founder and CEO of Kountable. “We’re extremely excited that they’ve chosen to become our first institutional partner.”
The infusion of up to $150M by this expert in alternative assets will further catalyze Kountable as a significant player in this market and bring increased capabilities to critical participants across the globe.
“The proliferation of mobile has made it possible to identify and engage tens of thousands of previously invisible entrepreneurs and SMEs that play a critical role in the global supply chain,” said Hale. “Our technology platform makes it possible to provide trade finance, accountability, and growth opportunities for what they do every day to improve healthcare, IT, education, and hospitality systems globally.”
By networking this previously isolated group of talented entrepreneurs and SMEs, Kountable is able to map, strengthen and discover new international trade pathways to provide faster, safer, more efficient and transparent global supply chains for the Fortune 500 and beyond.
In addition to this line of credit, Kountable has raised $6 million in early stage financing. This funding investment has been used by Kountable to hire development talent, scale channel capabilities, and increase its global footprint through deepening its enterprise partnerships.
Kountable along with Delft Imaging Systems and JobnetAfrica were selected based on the criteria of innovation, sustainability, and profitability in African markets.