MODIFI provides a digital platform that streamlines cross-border trade finance by offering instant payment solutions for exporters and flexible payment terms for buyers. The platform integrates trade management tools, including shipment tracking, into a single dashboard for enhanced operational control. This service enables businesses to manage global B2B payments securely while optimizing working capital and mitigating international transaction risk.
Funding
$328.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
SAFounders
Product
Problem
Small and medium-sized enterprises (SMEs) face challenges in accessing traditional trade finance solutions due to inflexible onboarding processes and risk considerations, leading to a significant funding gap. This lack of access can hinder their ability to engage in cross-border trade and secure favorable payment terms.
Solution
MODIFI offers a digital trade finance platform that addresses these challenges by providing SMEs with instant payments to sellers and flexible payment terms for buyers in cross-border transactions. The platform streamlines the payment process, allowing businesses to manage their payments and adjust terms in one place. By offering risk protection and shipment tracking, MODIFI enables businesses to engage in global commerce with increased confidence and control. The on-demand model eliminates the need for extensive supplier contracts, simplifying the process for buyers and sellers alike.
Target Audience
The primary target audience includes SMEs engaged in international trade, specifically Western European companies seeking to extend payment terms and suppliers worldwide looking for faster payments.
Features
- Digital onboarding process with minimal paperwork
- Instant payment to sellers immediately after shipping
- Flexible payment terms for buyers, up to 120 days
- Risk protection for secure exporting
- Shipment tracking tool for real-time visibility into trades
- Intuitive platform for managing payments and adjusting terms
- API integration with solarisBank for a fully digital end-to-end process