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E-invoicing, SCF & E-procurement

TradeRocket signs deal with Hitachi Capital America for supply chain financing

Wednesday 3 February 2016 | 10:51 AM CET

TradeRocket, a financial technology company, has entered into an agreement with Hitachi Capital America to provide working capital to the mid-market through a new supply chain financing program.

Launching in February 2016, the funding under this agreement will come from Hitachi Capital America's trade finance division, which plans to fund more than USD 2 billion in its fiscal year ending March 31, 2016.

Trade Rocket's enterprise based global supply chain financing platform allows buyers to obtain up to USD 5M of funding to support their supply chain; also, it allows suppliers the option to be paid early. Moreover, it gives funders access to a recurring flow of short-term, low risk, high return investment opportunities.

TradeRocket will provide Hitachi Capital with a pool of mid-market buyer; once underwritten, a buyer will be able to provide an Early Pay invoice option to its entire supplier network.

Hitachi Capital America is an independent financial services company providing financing to Hitachi group companies and the commercial business sector in the US and Canada. Hitachi Capital America offers a variety of financing solutions with a business focus on trade, truck, vendor, and medical equipment finance, as well as lease discounting and software financing.

More: Link
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