Olea Global Pvt. Ltd., a digitise supply chain platform that empowers sustainable trade, and Vayana Network, India’s largest trade finance platform have announce a partnership which plans to provide exporters and importers in India with timely access to alternative liquidity.
Over the past few years, there has growing interest in India as a manufacturing hub, as large multi-national corporations seek to diversify their global supply chains.
In order to meet this increasing demand, businesses in India, especially micro, small and medium size enterprises (MSMEs), have looking for quicker access to sources of capital.
Traditional lenders tend to have lengthy and opaque documentation processes which make it hard to access this capital.
In fact, World Bank estimated that Indian MSMEs alone account for a $380 billion credit gap.
Sharing his views, Ram Iyer, Founder and CEO, Vayana Network, Said :
The partnership will initially focus on making export finance readily available for small and mid-sized exporters.
It will address the clear need for products which offer straightforward and fast access to capital.
The synergies from the relationship between Olea and Vayana will bring together their unique offerings and provide a focus on long-term value.
Olea brings its extensive structuring capability, state-of-the-art technology platform and extensive access to funding from alternative investors globally.
Letitia Chau, Deputy CEO of Olea Said :
On the other hand, Vayana is deeply entrench in the Indian ecosystem and can leverage its close relationships with corporates in India to provide financing solutions.