DP World, the global logistics leader and provider of smart supply chain solutions, today announced a partnership between CARGOES Finance By DP World and TuningBill, the business-to-business neobank.
CARGOES Finance By DP World is a fintech platform that brings together global importers, exporters and logistics companies in need of finance from around the world with financial institutions. CARGOES Finance provides lenders with access to freight movement data, allowing them to lend with confidence.
DP World customers will have access to TuningBill services through the CARGOES Finance platform. These include flexible and fast secured and unsecured lending services, as well as non-lending services such as warehousing and fulfillment, foreign exchange and remittances.
TuningBill serves importers, exporters and e-commerce merchants who may face funding shortfalls from other banks. TuningBill can open bank accounts for its customers in multiple currencies, helping customers who deal with multiple currencies when performing cross-border transactions. The partnership follows TuningBill’s recent announcement that it has raised a $22 million investment from Fasanara Capital.
Mike Bhaskaran, Group COO, Digital Technology for DP World, said: “The new partnership with TuningBill adds further value to the services available to customers on the CARGOES Finance platforms. Now, those who benefit from these new financing options will have the peace of mind that their business operations will not only be more financially secure, but also more efficient thanks to the additional features provided by TuningBill.
Sinan Ozcan, Senior Manager, DP World Financial Services Limited: “By integrating TuningBill on the CARGOES Finance platform, we are giving traders around the world better access to critical financing options. By working with TuningBill, we aim to bridge the global trade finance gap. »
Asit Beesen, founder of TuningBill: “We are touched by this strategic partnership, a major step in our journey. We are committed to meeting excess lending demand, growing the book north of $200 million in the near term, further improving our technology, and most importantly, growing our non-lending revenue.
Mohan Anem, Co-Founder, TuningBill: “By working with DP World, we can accelerate our customer acquisition. Its global reach will allow us to reach more and more customers in need of banking solutions.
For more information on CARGOES Finance By DP World, or to request a demo, please visit: https://cargoes.com/finance
The financial services offered on the CARGOES Finance By DP World platform are provided by DP World Financial Services Limited, which is regulated by the DFSA.
Source: DP World Cargoes