Marketlend, Australia’s leading marketplace trade credit platform, continues to excel as it recently closed a new $100 million financing facility with Crayhill Capital Management LP, a New York based private credit manager and asset-based lender.
This new facility will assist with liquidity and cash flow management to global companies affected by the COVID-19 pandemic. It complements Marketlend’s existing trade credit securitization program, which offers financing to companies engaged in international trade.
Marketlend has gone from strength to strength, being valued at AUD $175 million dollars earlier this year and subsequently raising AUD $8.5 million dollars in equity to expand brand awareness and marketing. Since inception the company has an impressive 760 investors, 873 trade credit facilities to the value of AUD$333 million dollars.
Leo Tyndall founded Marketlend in 2014 to address the significant $1.5 trillion dollar ‘trade finance gap’ in global trade financing as identified by the International Chamber of Commerce. Leo’s experience in the financial service industry is extensive. While working as a Capital Markets Practitioner in the financial service market, Leo realized that SMEs weren’t given the same funding opportunities or able to obtain the equivalent insurance protections as corporates. Marketlend offers working capital solutions to SMEs and provides innovative and flexible financing solutions for buyers and sellers in global supply chains. Marketlend is also able to negotiate and implement insurance arrangements on behalf of SMEs to enable greater participation of investment in these SME funding opportunities. The financing facility established with Crayhill Capital Management is being used for commodity finance throughout Asia, the Middle East and Oceania.
“After seeing a gap in the market, we recognised the need for a platform delivering trade credit to commodity trading corporates, SMEs and investors. We saw that corporates and SMEs had working capital locked up in their accounts and our solution to unlocks this capital,” says Leo Tyndall. “Both in Australia and internationally, we aim to provide financing options that can accommodate both immediate and long-term support for businesses, particularly during the COVID-19 pandemic. This has become critical in the current international market as we are seeing banks, credit insurers and funders leaving the commodity space, however, we remain open for business. We are excited to be working with Crayhill Capital Management LP and believe this financing facility will benefit many international companies.”
Marketlend provides supply chain finance, debtor finance and line of credit products to borrowers, with a quick turnaround and competitive rates. The company securitises each trade credit facility from inception and delivers an investment that is accompanied by individualised trade credit risk protection enhancements.
In furtherance of the need to unlock working capital for SMEs, Marketlend’s latest products UnLock, a Buy Now Pay Later B2B solution, is a payment gateway that enables SMEs to boost their purchasing power with suppliers and have extended supplier terms of up to 30, 60 or 90 days.
“We are currently building brand recognition for UnLock in the market and looking at establishing a larger number of suppliers. When we have succeeded, we will look into an IPO. After achieving our domestic growth objectives, there is potential for Marketlend to be on an Australian Securities Exchange listing in 2021 and that is quite an exciting prospect.”