Flexport Capital secures $200 million credit facility
Flexport Capital, the trade financing arm of Flexport , announced it has secured a credit facility of up to $200 million from separate insurance accounts managed by KKR , a global investment firm.
Flexport Capital provides companies access to flexible working capital for inventory and logistics expenses. Through Flexport Capital, businesses can access more flexible terms on shipments processed by the Flexport Platform. Flexport Capital uses logistics data to gain deep visibility into a customer’s overall supply chain health and to understand their working capital needs. Flexport Capital then evaluates purchase order data and inventory-in-transit in order to provide liquidity to businesses across a broad range of industries, such as retail, industrial manufacturing and electronics.
Since its inception in 2017, Flexport Capital has financed over $1 billion in invoices for over 500 importers and exporters across more than 20 countries. In 2022, it expanded its loan offerings to customers in five new regions: Canada, the U.K., the Netherlands, Belgium and Luxembourg. Flexport Capital’s portfolio size has grown 149% YoY.
“Flexport Capital’s innovative and fully integrated financing solutions play a critical role in facilitating global trade for some of the largest companies in the world. We look forward to supporting the company’s efforts with our long-term capital as industry demand for customized financing solutions continues to grow.” – Avi Korn, Managing Director at KKR.
“Flexport Capital began from the belief that a company’s supply chain should be a core competitive advantage and growth enabler, not a working capital impediment. With deeper visibility into overall supply chain health, we can help businesses of all sizes – and their partners – to remove liquidity constraints in the midst of uncertainty. I’m thrilled to have KKR providing a credit facility to help us execute our vision to make global trade easy for everyone.” – Justin Sherlock, Head of Flexport Capital.
