Singapore-based global bill financing market, Incomlend, has arrange in Dubai. The transfer marks the following step within the firm’s global expansion plan to scale its attain and ship bill financing options to small and medium enterprises (SMEs) worldwide.
A pivotal milestone in its progress technique, the proximity benefit of getting a bodily presence within the UAE will allow Incomlend to serve its current clients higher. It will successfully prolong its bill financing market and non-recourse working capital options to extra companies within the Middle East and close by areas like North Africa, Europe, and South Asia.
Incomlend Co-Founder and Chief Executive Officer, Morgan Terigi, felt that as a regional monetary hub and a frontrunner within the fintech area, the corporate sees the chance for Incomlend to develop its enterprise within the UAE and the Middle East area. He added, “We will be closer to markets like India, Bangladesh, and Turkey, where trade activities abound. With our office opening in Dubai, we now have our ears on the ground to better support more SMEs in the region. We continue the mission to deliver competitive and alternative working capital solutions to more quality SMEs and support their growth.”
One of the corporate’s key clients within the space features a steel buying and selling agency that processes metals bought throughout the globe, together with Hong Kong, Japan, Bahrain, Saudi Arabia, the United Kingdom, and the United States. The agency sells processed steel to corporations within the UAE. Incomlend supplies it with a fast turnaround working capital answer to finance invoices for a complete facility of US$4 million. The money circulate allows the corporate to pursue new enterprise streams and develop its enterprise.
Recognising the super market potential and unmet financing calls for within the Middle East via these offers, Incomlend has appointed Loic Hennocq, beforehand Head of Operations at Incomlend, because the General Manager of its Dubai workplace. With greater than 20 years’ expertise within the commerce finance business, he’ll lead and develop the corporate’s footprint within the area and decide to participating extra SMEs which might be underserved by conventional monetary establishments.
Hennocq commented: “Incomlend is a company with proven experience in the UAE. Given the global trade climate, expanding into the Middle East was a natural move that has always been a part of our global growth strategy. I am excited to lead the team in the region and look forward to growing Incomlend as a trusted and reliable fintech partner to more SMEs through our tech-enabled working capital solutions.”