Transigo raises $ 70 million financing facility

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Transigo, a Haifa, Israel, Richmond, Virginia and Hong Kong-based SaaS software provider that enables cross-border B2B marketplaces to provide point-of-sale financing to its buyers, has secured a financing facility of up to 70% millions of dollars.

The backers were two publicly traded companies in Israel: EN Shoham Business Ltd (SHOM: IT) and Nawi Brothers Group Ltd (NAWI: IT).

With business potential to increase funding, the facility will allow the company to expand its point-of-sale SaaS platform to major B2B markets in Asia during the first quarter of 2022.

Led by CEO Nir Tal, Transigo provides a point-of-sale SaaS platform that integrates with marketplace platforms through a secure API and enables the marketplace to offer approved buyers up to $ 80,000 worth of point-of-sale credit with a maximum term of 90 days. Approvals can be completed in minutes.

To assess potential buyers and minimize risk, the company uses an AI deep learning-based scoring algorithm that has been tested and found to be able to provide very accurate estimates of future financial performance of the company. a buyer. Transigo also further limits its downside risk by using an innovative structure with high credit insurance coverage and direct debits from borrowers’ bank accounts for settlement payments.

The company counts among its investors entrepreneurs who have co-founded startups that have gone public and achieved valuations of several billion dollars.

FinSME

01/02/2021

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