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New Fintech Attara Seeks to Bring Financial Certainty to UK SMEs
Today marks the official launch of Attara, a pioneering fintech company poised to transform the landscape of commodity hedging for businesses across the UK. By combining cutting-edge technology with expert advisory services and customised hedging solutions, Attara aims to democratise access to hedging solutions that were previously only available to large corporations, providing much-needed financial security to SMEs.
The commodities market has a profound impact on the financial health of countless businesses, but traditionally, only large corporations have had the resources to effectively manage price risk.
Now, Attara seeks to level the playing field by offering simple, yet powerful financial tools that reduce exposure to price volatility. The company marries over 100 years of market trading experience with disruptive AI technology, enabling clients to make confident financial decisions.
Greater control over outgoings has never been more important for SMEs. Geopolitical tension, adverse weather events and an ever-changing regulatory landscape have driven drastic changes in commodity prices in the metals, agriculture and fuel industries in recent years, posing significant risks to cashflow and profitability for exposed businesses.
Attara offers specialist services across three main areas:
- Fuel Lock: a one-of-a-kind, specialist hedging tool offering UK companies budget security by fixing future fuel prices without changing suppliers
- Agriculture & Soft Commodity hedging: mitigating high-stakes commodity price risks inherent to the agriculture market, whether you’re a grower, merchant, food or animal feed manufacturer, retailer, brewer, or any other market participant
- Metals: enabling businesses to gain full control over metals costs, delivering a valuable advantage to your operations, budgeting and forecasting, whether you rely on the price of ferrous, base and non-ferrous or precious metals
CEO and Founder Richard de Meo brings expertise from his previous position as founder of Foenix Partners, an FX specialist business providing currency risk management services to SMEs, in addition to roles at Barclays and Bank of America – sales trading roles with a focus on corporate risk management. He is backed by a stellar team of experts with deep sector specialisms in agriculture, metals and fuel.
“Price fluctuations in commodity markets are inevitable, but financial risk doesn’t have to be. Hedging is an effective financial strategy to reduce this exposure, but for too long it has been reserved for those with the resources and tools to navigate market complexities. This puts large corporations at a significant advantage, which is a major injustice”, says Richard.
“We are thrilled to fill this gap in the market by sharing our specialist solutions that can be accessed by businesses of any size. Our deep expertise, combined with simple, yet powerful tools will help more businesses to take control and make confident financial decisions – leaving them to get on with what matters most, running their business.”
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