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MUFG Bank entrusted Velotrade’s trade finance platform to bolster banking operation efficiency  

Velotrade is a digital trade finance platform that specialises in the alternative asset class of “Account Receivables Financing” and is the only dedicated trade finance platform regulated by Hong Kong’s Securities and Futures Commission with a Type 1 license.

 

The platform enables global importers, exporters, and SMEs to raise working capital from investors with their unpaid invoices. Businesses can receive advances on their outstanding invoices and gain greater liquidity to finance their business operations. Investors can in turn generate positive returns for their excess liquidity with better risk ratios than other traditional assets.

 

Recently, Velotrade announced that it has entered into a partnership with Japan’s MUFG Bank. The company will deploy a customised version of its platform to help the bank’s Transaction Banking Office for Asia (TBOA) in Hong Kong automate its trade invoice processing. The platform will enable TBOA to boost its operational effectiveness by better managing high volumes of trade transactions empowered by advanced financial technology.

 

“Cyberport has been great connecting all the small entities in a unique environment. Velotrade has been involved with Cyberport since the very beginning of the journey. Through Cyberport, we managed to make meaningful connections, and we are looking forward to future collaborations. We are proud to be part of the Cyberport family,” said Gianluca Pizzituti, CEO of Velotrade.

 

Velotrade’s partnership with MUFG marks a new milestone in the young company’s impressive rise. Since it was founded in 2017, Velotrade has been servicing clients from a kaleidoscope of sectors and handling their cross-border financing deals in Hong Kong, Mainland China, Singapore, Taiwan, Malaysia, Thailand, and Vietnam.

 

In 2021, Velotrade aims to increase its market presence in the Asia-Pacific region by expanding its existing teams in Vietnam, Shenzhen, and Taipei. In addition to strengthening its position in the alternative trade finance space, Velotrade is also increasing the array of products available for SMEs, the latest being e-commerce financing.

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