As per the latest news, Vayana TradeXchange, an International Trade Financing Services (ITFS) platform, providing international trade finance under the supervision of the International Financial Services Centre Authority, GIFT City, declared the completion and payment of its first set of export financing transactions. Earlier, the Vayana Network raised rs. 114 Cr to support MSMEs in trade credit.
Vayana TradeXchange (VTX) is established and operated by Vayana Pvt Ltd, a 100% subsidiary of Vayana Network, the renowned and largest Supply Chain Finance platform in India.
The reports reveal that the finance for completing the first set of transactions on VTX has been provided by VoloFin, an international FinTech organization, facilitating invoice and supply chain finance solutions to small and medium-sized businesses (SMEs). The first global transaction between an Indian exporter and a USA buyer was effectively funded on VTX by VoloFin.
VTX, the auction-based electronic platform, will work towards facilitating the funding of global trade transactions by introducing a range of trade finance products at competitive terms. This will enable exporters & importers in India and across the globe to get funding in exchange for their receivables or for payments for imports of goods & services.
Read more: https://www.emeriobanque.com/news/vayana-tradexchange-completes-its-first-transaction-with-volofin
