Supply Chain Fintech VoloFin Raises $50Million in Funding

VoloFin a supply chain finance firm located in Singapore has raised $50 million in a new fundraising round from a top-five global bank in the US that wants to be anonymous because of a non-disclosure agreement.

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According to a statement from VoloFin, the funding is set up as a notes program, with the bank's subscribed notes being issued via a special purpose vehicle (SPV) domiciled in Europe, as reported by Yourstory. 

Notes are financial securities issued by an SPV that resemble bonds. Investors—in this example, a large US bank—subscribe to these notes offering funds in return for a return.

The money is mostly intended for disbursals, with the goal of giving Indian exporters much-needed trade finance without the necessity for collateral, which is something that traditional banks hardly ever give. 

The facility enables quick expansion, with intentions to raise the program to $150 million over the following three years. The first tranche has already been disbursed. 250 to 350 exporters are expected to benefit from the $50 million, the report stated.

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