3S Money to supercharge SME global trading with trade finance fund
Money, an authorised Electronic Money Institution (EMI) regulated by the UK’s FCA, today announces the launch of a trade finance fund – FGR 3S Global Trade Finance Fund – set to lend at least £100m to SMEs over the next three years. The fund, managed by 3S Capital Partners B.V., a wholly owned Dutch subsidiary of 3S Money, is designed to help importers and exporters expand their businesses into new markets and trade more easily around the world.
Trade finance is typically only offered by traditional banks to large enterprises. The existing digital offerings do not provide meaningful cross-border trade finance and limited access to international payments infrastructure often restricts how far or quickly smaller companies can expand their operations.
The launch of this fund and 3S Capital Partners’ financing expertise makes it easier for smaller companies from a wide variety of jurisdictions to access critical capital infrastructure. The fund will help them trade overseas, scale faster, increase their revenue and get closer to their international customer base.
Multi-currency loan facilities for importers and exporters will start from £250,000 and have flexible duration. The fund has already successfully completed its first trade financing deal of EUR 2 million, helping an Estonian trader expand its agricultural commodities exports to Belgium and the Netherlands.
Ivan Zhiznevskiy, CEO of 3S Money comments, “Millions of mid-sized businesses are prevented from trading globally, falling off the radar of domestic focused banks, new or old. We’re on a mission to help small businesses go global.
“In 2022, finance needs to be more inclusive. All businesses, regardless of size, deserve easy to access financial support. This is why we’re launching our trade finance fund – to take the pain out of global trading and enable businesses from around the globe to expand their business, increase revenue, and contribute even more to the global economy. This trade finance offering is a natural extension of the 3S Money payment services ecosystem, building on the group’s proven track record and expertise in facilitation of global trade flows.”
Launched in 2018, 3S Money has already reached profitability. The fintech scaleup connects corporations to their customers globally by providing them with local business accounts to send and receive funds through all major payment rails. After launching in the UK, 3S Money now provides local UK, Netherlands Luxembourg, Germany, Denmark and US accounts to entrepreneurs in over 190 countries.