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Yubi Group's alliance with MODIFI
Yubi, a technology firm operating in end-to-end debt lifecycle solutions, has revealed an alliance with MODIFI, a B2B fintech entity in Europe. This strategic partnership represents Yubi Group's debut in cross-border trade financing, reportedly it is broadening access to capital and promoting inclusive economic development.
Through the utilization of cutting-edge technology and innovative strategies, Yubi Group and MODIFI looking forward to changing the cross-border trade finance arena, enabling Indian SMEs and mid-sized corporations to effectively compete and flourish on the global stage.
“At Yubi, we aim to simplify access to credit for SMEs,” said Yubi Group Founder and CEO Gaurav Kumar. “This partnership with Modifi addresses several key challenges faced by Indian companies venturing into international trade. Many lack awareness of financing solutions, struggle to navigate complex regulations, and grapple with data in unstructured formats. By combining Yubi's extensive network and industry knowledge with MODIFI's innovative solutions, we can empower Indian businesses, offering them much-needed liquidity and risk mitigation.” he added.
This collaboration aims to offer Indian exporters and importers reliable, unsecured funding for international transactions, addressing the persistent challenge of collateral requirements. Through this pioneering funding approach, businesses will gain the necessary financial support to strengthen their commercial activities, extending beyond borders and providing significant financing of up to 80% of the invoice value.
Additionally, they will gain access to real-time insights into the creditworthiness of global trade partners, enabling them to navigate international market risks effectively and capitalize on emerging global prospects.
MODIFI’s Country Head, Sachin Nigam, remarked, “Our strategic partnership with Yubi is to assist Indian exporters by endowing them with solutions that enhance capital fluidity. India’s market is pivotal to our operations, and our expansion aligns seamlessly with the nation’s economic progression and ambitions.
"In the FinTech sector, specializing in cross-border B2B payments and financing solutions, MODIFI is contributing to India’s “Make in India” endeavor. Our solutions are designed to bridge the existing financing and payment divides faced by Indian corporates, propelling them to the forefront of the global manufacturing landscape by addressing imperative facets such as working capital accessibility, efficacious payment mechanisms, and comprehensive risk oversight.” he added.
Small and Medium Enterprises (SMEs) are pivotal drivers of worldwide economic growth and innovation, pivotal in job creation and GDP expansion. Nonetheless, they encounter notable hurdles in securing credit, leading to a widening gap in credit accessibility. This gap ballooned to $2.6 trillion in 2023 from $1.5 trillion previously due to stringent credit criteria, escalating borrowing expenses, and scant historical financial data availability.
Concurrently, the global B2B e-commerce market, expected to hit USD$36 trillion by 2026, offers vast potential for SMEs. To succeed in this sphere, strategic market penetration, streamlined logistics, and innovative payment solutions accommodating varied consumer preferences and regulatory frameworks are essential. Yubi and MODIFI are jointly dedicated to nurturing a thriving cross-border trade ecosystem in India, unlocking fresh prospects for Indian enterprises.