HSBC is partnering with supply chain technology firm Tradeshift to offer finance through the cloud-based platform.
“We have been looking to link provision of financing, a market that has traditionally been very fragmented and manually driven, into the physical supply chain,” said Tradeshift CEO Christian Lanng.
HSBC invested in the fintech in June 2016. Santander’s venture fund arm invested in Tradeshift earlier this year.
Vivek Ramachandran, global head of propositions, global trade & receivables finance, said that the deal would allow HSBC corporate customers to “extend working capital solutions across their supply chain, giving suppliers earlier access to working capital.”