Key points:
- Supply@Me Capital shares surged 15.3% on DP World partnership.
- The inventory monetisation firm will join DP World’s Cargoes platform.
- SYME shares look pretty attractive at current prices after the recent decline.
The Supply@Me Capital PLC (LON: SYME) share price surged 15.3% after its subsidiary TradeFlow Capital partnered with Cargoes Finance, a service offered by DP World.
The partnership will see TradeFlow provide its in-transit & warehoused goods monetisation non-credit facility to Small and Medium-Sized Enterprises (SMEs) via DP World’s CARGOES Finance fintech platform.
Also Read: Best Financial Stocks to Buy Right Now.
CARGOES Finance is a fintech platform that allows SMEs to access working capital from leading financial institutions globally. In addition, SMEs can have access to funds sourced from the participating financial institutions via the fintech platform.
Supply@Me Capital will generate revenues from the partnership via its Investment Advisory division, which allows it to supply funds to the SMEs via the CARGOES Platform.
DP World is a global provider of intelligent end-to-end supply chain logistics, facilitating trade worldwide. The company offers multiple services, including inland and maritime terminals, industrial parks and marine services, in 69 countries and six continents.
Alessandro Zamboni, SYME’s CEO, said: “I am delighted to announce this important collaboration with CARGOES Finance By DP World. This is a key milestone for the Supply@Me Group. DP World is a world leader in global supply chain solutions, and their innovative CARGOES Finance platform will be a game-changer for SMEs, increasing trade opportunities in countries across the world.”
Tom James, TradeFlow’s CEO and SYME executive director, said: “We are proud to become a partner of CARGOES Finance By DP World and are confident that its client base will quickly see the benefit of our Funds. We would hope this agreement is the first of many with DP World, which could see the Supply@Me Group become the first-choice option for many users of the CARGOES Finance Platform. This partnership also represents a key development for the Supply@Me Group’s offering in the MENA region, further strengthening our relationship and proposition, alongside the Shariah Fund’ initiative and the strategic alliance with iMass investments.”
Sinan Ozcan, DP World Financials Services’ Senior Executive Officer, said: “I am pleased to confirm that TradeFlow, and by extension the Supply@Me Group, has partnered with CARGOES Finance By DP World, joining us in our mission to bridge the trade finance gap. Our two organisations share an entrepreneurial spirit and the common goal of supporting SMEs to achieve their ambitions through innovative finance solutions. I look forward to a fruitful relationship with Supply@ME Group and exploring the different ways we can extend access to its Funds for the benefit of our clients.”
SYME shares look pretty attractive at current prices after falling 73.2% in the past 12 months. The shares have fallen 17.8% in 2022 and seem to have bottomed at the 0.12p support level. I would buy the shares given the excellent risk to reward setup.
*This is not investment advice. Always do your due diligence before making investment decisions.
The Supply@Me share price surged 15.38% to trade at 0.15p, rising from Thursday’s closing price of 0.13p.
