AsiaNet 84249

LONDON, June 3, 2020, /PRNewswire=KYODO JBN/--

Online trade finance scale-up Stenn has secured participation from Barclays

Bank, Coface SA, and Crayhill Capital Management LP in its latest investment

round. The funding is for its core trade financing programme, Stenn Assets

Funding, now sized at half a billion dollars.

The two investors and the insurance provider have joined Stenn's award-winning

financing programme, alongside existing financing providers Natixis, which is

also the arranger of the programme, NN Investment Partners, and M&G. The

investment supports Stenn's continued growth in the field of cross-border trade

finance and comes on the back of the European Structured Finance Deal of the

Year 2020 award from International Financial Law Review.

Second funding round in one month to help companies during the Covid-19 crisis.

The latest investment round is the second in less than a month for Stenn. The

company closed a new $200 million programme on May 11 from Crayhill, a New

York-based private credit manager and asset-based lender, in order to expand

its digital trade finance services and further support companies in boosting

their international trade flows.

With this added capacity, Stenn is positioned to offer greater numbers of

businesses access to fast and flexible cross-border trade finance at a time

when working capital is critically scarce.

Stenn's fully digital financing is unique in international trade.

Founded in 2015, Stenn is a financial technology company that provides fully

digital financing for buyers and sellers in global supply chains. Amounts up to

$15 million may be funded and managed online, with larger amounts available on

request, dramatically speeding up access to capital to fund cross-border

transactions.

The company supports international trade across a range of industries, helping

to address the $1.5 trillion 'trade finance gap' identified by the

International Chamber of Commerce as a significant unmet need in global trade

financing.

Stenn has grown significantly since launch, now residing as a top player in

cross-border trade financing. The company's financing is available to exporters

in 178 countries, allowing greater numbers of businesses to access financing

and accelerate the rate at which they do business.

Greg Karpovsky, Founder of Stenn, commented: "We're seeing supply chains at

risk of breaking down due to the coronavirus pandemic. Companies had to deplete

liquidity reserves to get through lockdown and are now in need of working

capital to reignite their business. This funding comes at a crucial time for

the firms we support and the participation of such high-quality investors in

this programme expansion affirms our strategic vision to inject liquidity into

global supply chains. Together with our recently-announced Stenn Direct Funding

programme, we are exceptionally well-positioned to help our clients boost their

international trade flows and accelerate the global recovery."

Chris Rigby, Global Head of Finance & Capital Markets at Stenn, commented: "We

are delighted to have secured an upsize and extension of Stenn's core AR

funding programme. Notwithstanding the recent dislocation in global capital

markets as a result of the Covid-19 pandemic, Stenn has proven capable of

developing innovative and scalable financing architecture, as well as

attracting and retaining capital from a world-class group of banks and

institutional investors."

Frédéric Bourgeois, Managing Director of Coface UK and Ireland, commented:

"Coface is delighted to join Stenn International and its funders in this new

phase of their development, at a time when access to trade finance is critical

for most economies worldwide. These growing needs represent financing

opportunities which we are glad to support."

Emmanuel Issanchou, Global Head of Structured Credit & Solutions at Natixis

said: "A long-term partner to Stenn since 2018, Natixis is proud to have

supported this extension and upsizing of the company's core finance programme.

In the current challenging economic conditions more than ever, Stenn's offering

provides its clients with a clear advantage in ensuring they are able to

quickly access the financing they need to support their international

transactions."

Notes to editors

About Stenn International Ltd:

Stenn International Ltd. is a UK-based data and financial technology company

providing flexible financing to companies engaged in cross-border trade.

Stenn's trade finance solutions may be secured and managed online, speeding up

access to liquidity for export suppliers while allowing import buyers to

purchase on open account terms. These innovative practices allow Stenn to

finance in sectors and geographic regions currently underserved in global trade.

Stenn operates globally with offices in Buenos Aires, Los Angeles, New York,

Miami, London, Amsterdam, Brussels, Dusseldorf, Berlin, Mumbai, Singapore, Hong

Kong, Guangzhou, Hangzhou, Qingdao and Shanghai. Learn more at stenn.com or

follow Stenn on Twitter [https://twitter.com/Stenn_Intl ], LinkedIn

[https://www.linkedin.com/company/stenn-financial-services/ ] and Facebook

[https://www.facebook.com/StennIntl/ ].

SOURCE: Stenn International