Modifi raises $145 million in debt financing

The company plans to use the money to meet a growing demand for trade finance.

Berlin-based trade finance platform Modifi has announced a USD 145 million debt financing from Silicon Valley Bank and Solarisbank. The money will be used to finance the trade of small and medium-sized companies on the digital platform.

The company explains that it wants to meet the growing demand for trade finance in international markets. CEO and co-founder Nelson Holzner explains the reasons for this: "2021 has been a difficult year for small and medium-sized companies: They are struggling with logistical difficulties, freight rates have skyrocketed and consumer demand has risen sharply again." Holzner is convinced: "We can help here and offer our customers additional liquidity and risk protection so that they can fulfill more orders and expand their business. We are very pleased to be significantly expanding our partnership with Silicon Valley Bank and Solarisbank."

Modifi has recently quadrupled its business. India was the largest market, followed by China and Hong Kong, the United Arab Emirates and Germany. This year, the company expanded into the Netherlands, the USA and Bangladesh. It describes itself as the only digital trade finance platform that covers the most important trade regions of Europe, Asia and North America. Together, these three regions are responsible for 80 percent of global imports and exports.

More than 1,000 importers and exporters from over 40 countries use Modifi to trade internationally and find new partners. Following Series B financing in September of this year, the company is now working on expanding its digital platform. In the future, this will offer products that go beyond pure trade finance and enable customers to manage all trade-related activities in one place.