Modifi receives 20 million euros

The digital platform for trade finance has completed its Series B financing round. The fintech now claims to have reached a valuation of more than 100 million euros.

The start-up Modifi, which operates a digital trade finance platform for SMEs, has closed its Series B financing round and raised 20 million euros. The investors Heliad Equity Partners and Neva SGR, a VC fund of the major Italian bank Intesa San Paolo, are leading the round. The existing investors Global Founders Capital, Maersk Growth and Picus Capital also participated in the round.

Modifi is active in Europe, Asia and North America. The start-up's platform offers SMEs solutions to finance their trade, protect them against default risks and track and manage their shipments. With the financing round behind it, the fintech wants to expand it further so that customers can use it to handle all trade-related activities. This includes, for example, searching for new trading partners and managing foreign currency risks.

"SMEs lack the tools and expertise to trade with the same ease as their larger competitors. The solutions available are not enough," says Nelson Holzner, CEO and co-founder of Modifi. According to the start-up, which was founded in 2018, more than 1,000 importers and exporters from over 40 countries use the platform as a digital solution to trade like large companies on the international stage and find new partners worldwide.