VoloFin
Overview
VoloFin is a Singapore-based financial technology company specializing in supply chain financing. The firm was founded in 2019, focusing on providing blockchain-powered platforms for invoice financing. VoloFin employs AI-based credit assessment tools to streamline processes such as user registration, customer onboarding, loan approval, and disbursement. The company recently secured $50 million in funding from a major US bank to enhance its operations and expand its services to exporters. The funding structure was a first in the sector without relying on external equity.
Recent Developments
- October 2024: VoloFin announced a strategic partnership with India Exim Finserve IFSC Pvt Ltd to improve receivables finance solutions for Indian exporters, particularly benefitting small and medium-sized enterprises (SMEs). New India Assurance is part of this alliance, providing a first-of-its-kind trade finance insurance policy from GIFT City, backed by Atradius.
- July 2024: VoloFin Capital Management Ltd. completed its first transaction with Magnetic Group, securing a structured financing facility to support Magnetic's expansion strategy involving narrow-body aircraft, engines, and landing gears.
- May 2024: VoloFin received $50 million in funding through a notes program established with a major US bank. This significant funding round marks the company’s first such structured facility, aiming to bolster capabilities for providing trade finance solutions to SMEs.
- March 2024: Co-founder and CEO Roshan Shah emphasized VoloFin's role in revolutionizing trade finance, particularly through partnerships aimed at empowering SMEs and facilitating international trade.
- January 2023: VoloFin Capital Management announced several promotions within its London team, reflecting the firm’s growth and the pivotal contributions of its personnel.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2019 |
| Headquarters | Singapore |
| Founders | Mohit Agarwal, Roshan Shah |
| Revenue | Not disclosed |
| Profits | Not disclosed |
| Key Investors | Major US Bank (undisclosed), India Exim Finserve |
| Industry | Fintech, Supply Chain Finance |
| Number of Employees | Not disclosed |
Early History
VoloFin was founded in 2019 by Mohit Agarwal and Roshan Shah with a vision to revolutionize the financial technology landscape through advanced solutions in invoice financing. Leveraging blockchain technology, the company focused on enhancing payment cycles and providing AI-driven credit assessments to offer loans secured against invoices. VoloFin aimed to tackle liquidity issues faced by exporters, particularly in economies like India, where small and medium enterprises struggle with funding gaps.
Company Profile and Achievements
- Business Model: VoloFin operates a blockchain-based platform for invoice financing, offering a seamless, digital user experience. The platform supports user registration, customer onboarding, loan approval, and loan disbursement using AI to assess credit risks.
- Milestones:
- Secured pioneering $50 million funding from a major US bank without equity reliance.
- Formed strategic alliances with organizations like India Exim Finserve to expand its service offerings.
- Expanded operational network across major financial hubs, including Singapore, India, and the USA.
- Achievements: VoloFin has been recognized for its innovative approach in trade finance, providing significant support to SMEs by offering collateral-free working capital solutions.
Current Operations and Market Position
VoloFin continues to enhance its supply chain financing capabilities, establishing itself as a critical player in the fintech industry. The firm focuses on delivering comprehensive financial solutions to exporters, with a particular emphasis on underserved SMEs. VoloFin's partnerships with major financial entities have strengthened its market position, enabling it to offer innovative financing mechanisms that bridge liquidity gaps in international trade.
Conclusion
VoloFin stands out in the fintech landscape with its unique approach to trade finance, leveraging blockchain and AI technologies to support SMEs effectively. The company's strategic partnerships and innovative funding structures underscore its potential to lead future developments in supply chain finance. As the firm continues to expand its operations and forge new alliances, it is poised to play a significant role in reshaping global trade finance dynamics.