Olea and Vayana Network to offer cross border trade finance in India
By Leandra Monteiro
Olea Global Pte. Ltd., a digitised supply chain platform that empowers sustainable trade, and Vayana Network, a trade finance platform in India have announced a partnership that aims to provide exporters and importers in India with timely access to alternative liquidity.
The partnership will initially focus on making export finance readily available for small and mid-sized exporters. It will address the clear need for products that offer straightforward and fast access to capital. The synergies from the relationship between Olea and Vayana will bring together their offerings and provide a focus on long-term value. Olea brings its extensive structuring capability, advanced technology platform and extensive access to funding from alternative investors globally. On the other hand, Vayana is deeply rooted in the Indian ecosystem and can leverage its close relationships with corporates in India to provide financing solutions.
Ram Iyer, Founder and CEO, Vayana Network said, “The Government, through its “Make in India” program and Production Linked Incentives (PLIs), is offering incentives for Indian manufacturing to become more globally competitive. Combined with the ITFS (International Trade Finance Services) platform and our other cross-border offerings, we aim to provide a wide array of trade finance solutions to businesses. The partnership with Olea complements our vision of connecting the smallest of businesses with the largest of lenders.”
Letitia Chau, Deputy CEO of Olea said, “Olea is passionate about bringing a fresh pool of international capital into the trade and supply chain finance market in India, specifically for small and medium-sized businesses. Indian MSMEs alone account for 45% of national exports and the value they contribute to the economy increases by around 12% per year. Addressing the credit gap for MSMEs directly impacts their ability to provide employment, among other things. Hence, the collaboration with Vayana strongly aligns with our desire to empower sustainable trade.”
IBSi Daily News Analysis
July 05, 2022
Here’s why web scraping will become huge for FS next yearRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage