Thursday, April 18, 2024
HomeRecent ArticleseCargo Secures US$5 Mn Private Debt Facility

eCargo Secures US$5 Mn Private Debt Facility

eCargo Holdings Limited, a supply chain company helping brands expand and sell more in the Asia market has secured a new private debt facility with AlteriQ Global, an Asia-focused private credit investment firm with a strong edge in Southeast Asia, for US$5 million to fund the continued growth of its proprietary B2B eCommerce platform, Flow.

eCargo Holdings Limited, a supply chain company helping brands expand and sell more in the Asia market has secured a new private debt facility with AlteriQ Global, an Asia-focused private credit investment firm with a strong edge in Southeast Asia, for US$5 million to fund the continued growth of its proprietary B2B eCommerce platform, Flow.

Read also – Malaysia-based Cult Creative Secures RM500k Seed Funding From The Hive Southeast Asia

The funds will be utilised to fast-track Flow’s continued growth by allowing the platform to fund an increased number of B2B transactions and the higher transaction values for its client base of buyers and suppliers. This will assist Flow to bring in new clients, help existing clients grow at a larger scale and expand in new regions, while ensuring scalability, security, and reliability.

Read also – Singapore-based Atome Secures $31m From Advance Intelligence Group

“We have been extremely pleased with the performance and traction that Flow has achieved over the past 12 months, with sales transactions continuing to grow strongly. In a market where brands and retailers are continuing to grapple with supply chain disturbances, weakening demand resulting in longer cash conversion cycles, and continuous changes in import regulations, Flow is playing an increasingly important role in supporting brands to sell into the burgeoning Asian market.

Read also – UAE-based Cargoz Secures Seed Funding led by Nama Ventures

“This marks the first time we have secured external funding since listing, which demonstrates the maturity of our business model in the market. We are excited to partner with AlteriQ, given their strong experience in this space. We look forward to sharing our progress with shareholders as we continue to grow.”

Read also – Singapore-based Silicon Box Secures $200M Series B Funding

About eCargo

Founded in 2014, eCargo Holdings Limited is an ASX-listed company offering solutions that connect global brands with Chinese buyers and provide the tools businesses need to grow their China sales. Long a key partner for brands in the China eCommerce and Distribution business with over 30 years of supply chain expertise and a distribution network covering more than 4,000 point-of-sales both online and offline, they have a proven track record in utilising technology and data to grow brands in China.

Read also – Asia Partners Announces Final Close of Second Fund at US$474M

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular