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 $145 million in debt financing from Silicon Valley Bank and Solarisbank. The money will be used to fund the trade of small and medium-sized businesses on the digital platform.

The company says it wants to meet the growing demand for trade finance in international markets. CEO and co-founder Nelson Holzner explains what this is based on: "2021 was a difficult year for small and medium-sized businesses: They're struggling with logistical difficulties, freight rates have skyrocketed, and consumer demand has surged again." Holzner believes, "We can help here, providing our customers with additional liquidity and risk protection so they can fill more orders and grow their businesses. We're very excited to significantly expand 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 US and Bangladesh. It describes itself as the only digital trade finance platform covering the major trade regions of Europe, Asia and North America. Combined, these three regions account for 80 percent of global imports and exports, it said.

More than 1,000 importers and exporters from over 40 countries use Modifi to trade internationally and find new partners. Following a Series B financing in September 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 allow customers to manage all trade-related activities in one place.