Stock - Port Terminal
Modifi plans to make it easier for SMEs seeking trade finance and working capital support. Image Credit: Supplied

Dubai: Small and medium businesses in the UAE can tap another resource for working capital, with the addition of fintech Modifi’s trade finance solutions to a DP World platform.

The Dubai ports and terminals operator DP World has a platform called ‘Cargoes Finance’, which brings together importers, exporters, logistics companies and financial institutions for end-to-end trade finance.

DP World customers with cargo and shipping requests can use Modifi’s trade finance products for both imports and exports, enabling them to get access to working capital.

“The Cargoes Finance platform continues to expand in major trading regions, and provide more and more SMEs with further access to working capital solutions,” said Sinan Ozcan, Senior Executive Officer, DP World Financial Services Ltd.

“With global trade witnessing significant disruption during the COVID-19 pandemic, finance and payments are playing a vital role in reducing the impact of disruption on importers and exporters,” said Nelson Holzner, CEO of Modifi. “This collaboration will ultimately ensure businesses are able to access the finance, the data, and the tools they need in order to meet their customers’ needs worldwide.”