According to the latest news on Oct. 15, 2021, DP World Financial Services Limited, a DP World company will start facilitating smaller organizations with easier access to trade finance as part of its agenda to become the global provider of trade finance services. In this regard, the firm has been issued a license by the Dubai Financial Services Authority that will enable it to operate as an authorized & reliable organization in the Dubai International Financial Center.
The newly licensed DP World Financial Services will connect small and medium organizations with suitable financial institutions through its latest introduced financing solution and fintech platform - “Cargoes”.
The platform will facilitate suitable financing solutions to exporters, importers, and logistics firms to help them bring global expansion smoothly & uninterruptedly. This fintech platform involves a web-based application that demands less documentation procedure and accelerates endorsement decisions upheld by insightful frameworks. Undoubtedly, fintech is driving financial growth to SMEs. The financial solutions accessible through Cargoes Finance incorporate trade finance, logistics finance, and inventory finance.
As per Mike Bhaskaran, DP World COO, Logistics and Technology, “Developing businesses often witness a shortage of capital and resources that are essential to bringing global expansion, often worsened by restrictive financial requirements and ample documents. We introduced Cargoes Finance to reduce these roadblocks, revealing new opportunities for SMEs to compete and reach an international market.”
Read more: https://www.emeriobanque.com/news/dp-world-to-facilitate-trade-finance-for-smes-through-cargoes
