Supply chain FinTech company Twinco Capital has secured an additional 50 million euro ($53 million) facility with BBVA Spark, a banking unit for high-growth and innovative companies, to help small- to medium-sized businesses (SMBs) in emerging countries access trade finance.
These SMBs are the companies most impacted by a $2.5 trillion global trade finance gap, the companies said in a Friday (Oct. 27) press release.
Twinco said it offers a supply chain finance solution that provides purchase order funding to suppliers in emerging markets. With over $250 million in funding already provided, the company aims to reinvent the way supply chains are financed on a global scale while incorporating environmental and social criteria into their supplier financing model.
BBVA Spark has become a key financial partner for Twinco, the release said. The banking unit has facilitated 250 million euro (about $264 million) in financing within one year of operation.
Twinco engages with large corporations, primarily in the retail and apparel sectors, and offers funding to their suppliers worldwide, per the release. The company said its unique risk model combines traditional financial risk assessment with business performance and environmental, social and governance (ESG) data. By using machine learning, Twinco evaluates the strength of commercial relationships between buyers and suppliers.
