Supply@ME secures funding partner to boost growth plans

By Robin Amlot

FinTech Supply@ME, which provides an Inventory Monetisation© service to manufacturing and trading companies, has entered into a Subscription Agreement with Negma Group Ltd, an investment fund for small and mid-cap companies, for the issue of an initial tranche of £5.6mn of Convertible Loan Notes.

The Subscription Agreement allows for the option of a further 9 tranches to be issued at the same par value over the next 24 months. Supply@ME also retains the option to repay up to 100% of this and any future CLN tranches in cash. This facility enables Supply@ME to realise planned strategic initiatives and provides it with access to funding, when required, to further scale the business to meet the demand for its platform.

Supply@ME has issued a drawdown notice to Negma in relation to the first tranche of Convertible Loan Notes, at an aggregate £5,600,000 in par value. Negma’s investment will be used to support the completion of the acquisition of TradeFlow Capital Management, for which Supply@ME signed a Share Purchase Agreement (SPA) on 26 May 2021. The transaction is due to close later this month.

Additionally, proceeds from this issue will support Supply@ME’s working capital requirements for future strategic projects. The business’ executive leadership plans to begin a feasibility study into a potential dual listing of the company’s shares on NASDAQ – also via an ADR programme – and/or other trading venues.

Alessandro Zamboni, CEO, Supply@ME, said: “This agreement with Negma will further enhance our ability to realise the full potential of Supply@ME. The acquisition of TradeFlow Capital is a key strategic initiative for Supply@ME and will accelerate our growth plans. The investment by Negma will also help to open up new markets where we are looking at the possibility of a dual listing.”

Rodolfo Galbiati, Fund Director at Negma Group, said: “We are very proud to support Supply@Me during this period of very exciting growth. The management team is executing a business strategy in line with their ambitions, and the acquisition of TradeFlow will further this work. By creating substantial shareholder value and synergies, this acquisition will continue to drive Supply@Me to a rapidly expanding global client base. Negma is delighted to continue to support European fintech success stories and entrepreneurs.”