The aim to enter partnership by Yubi group is to make Indian MSME’s access to capital easier.
MSME’s often struggle with lack of capital to pump into their business although MSME’s have access to several government funding schemes which require going through numerous collateral processes before the MSME’s finally have access to capital to start off or continue to expand.
Collaboration of Yubi Group
This collaboration signals Yubi Group’s foray into cross-border trade financing. The company said that this partnership highlights its dedication to enhance access to capital and promote inclusive economic development.
“By leveraging technology and innovation, Yubi Group and MODIFI aim to reshape the landscape of cross-border trade finance, empowering Indian SMEs and mid-sized corporates to compete and thrive globally,” the company said in a statement today.
This will set to enhance Indian exporters and importers access to secure, uncollateralized funding for international transactions, addressing the persistent challenge of collateral requirements.
The funding ‘s aim will equip MSME’s with the necessary financial support to bolster their business engagements, extending beyond borders and providing significant financing of up to 80% of the invoice value.
Read more on our stories: https://www.founderlabs.in/manentia-ai-mainly-to-enhance-diagnostic-accuracy-angel-investors-large-scale-deep-tech-start-up/
Additionally, they will gain access to real-time insights into the creditworthiness of their global trading counterparts, enabling them to navigate international market risks effectively and capitalize on emerging global prospects, the company claimed.
This partnership with MODIFI addresses several key challenges faced by Indian companies venturing into international trade.
Many lack awareness of financing solutions, struggle to navigate complex regulations and grapple with data in unstructured formats.
By combining Yubi’s extensive network and industry knowledge with MODIFI’s innovative solutions, we can empower Indian businesses, offering them much-needed liquidity and risk mitigation,” said Yubi Group’s Founder and CEO, Gaurav Kumar.
Talking about the partnership, MODIFI’s Country Head, Sachin Nigam, remarked, “Our strategic partnership with Yubi is a testament to our commitment to uplift Indian exporters by endowing them with state-of-the-art solutions that enhance capital fluidity.”
