THE WHAT? Twinco Capital has announced it has closed a US$12 million equity and debt round in order to expand its supply chain finance platform.
THE DETAILS The round was led by Quona Capital, with participation from Working Capital and existing investors Mundi Ventures and Finch Capital.
According to a press release: “Twinco Capital is on a mission to reduce the world’s estimated $1.7 trillion trade finance gap, which disproportionately affects small and medium-sized companies in emerging countries and hinders their ability to access business opportunities and grow.”
On the back of its financing programs, Twinco continuously collects data that stems from the intersection of commercial, financial and ESG performance of thousands of manufacturers involved in supply chains.
THE WHY? The funds will be used to accelerate the company’s expansion within the major sourcing countries and strengthen its technology and data capabilities, in particular in relation to ESG.
COO Carmen Marin said, “Twinco’s ambitious mission can only be achieved by bringing together all the relevant parties: Buyers, Suppliers and Investors.
“In this way, Twinco is a catalyst for change. With our new funding, we will be extending our geographic scope and data capabilities. We are also very excited to launch the very first sustainable-native supply chain finance program—the Twinco ESG Tilt, where business intelligence is directly linked to beneficial purchasing and funding conditions.”