Incomlend’s Invoice Financing Program Boosts Production Capacity at Indian Bulk Bag Manufacturer SafeFlex | Taiwan News
The ease of rapid execution allows the company to solidify its operations and manufacturing output to capture new revenue opportunities with potential and existing customers
SINGAPORE – Media OutReach – Feb 8, 2022 – Global Invoice Finance Market, Incomlend, announced a multi-million bill financing program for SafeFlex International Limited (SafeFlex), one of India’s leading manufacturers of Flexible Intermediate Bulk Containers (FIBCs), polywovens and polyknits, with four manufacturing across the country. The working capital solution allows the company to finance and increase production capacity of its pharmaceutical and food grade industrial bulk containers and bags to seize new business opportunities with potential and existing buyers.
SafeFlex has experienced tremendous revenue growth over the years and plans to further expand its production capacity. The company’s portfolio of over 500 global buyers includes long-time buyers who are distributors and manufacturers based in developed countries such as the US, UK and Europe.
The Incomlend Invoice financing program will play a key role in SafeFlex’s expansion plans to double production capacity and increase revenue. This allows the company to capitalize on opportunities in the growing global bulk bag market, which is expected to reach a value of nearly US$5 billion by 2023.
Traditionally, it takes SafeFlex up to 90 days to collect an invoice. However, extended payment terms can undermine their financial agility and limit their operations and manufacturing output. With the fast turnaround facility provided by Incomlend, the manufacturer can collect an invoice as early as three days after the goods are shipped to their buyers. It provides them with the cash flow needed to finance their next production cycle and effectively increase their ability to meet new or increased orders from their buyers.
Founded in Singapore and with offices in Europe, India and Southeast Asia, Incomlend connects small and medium-sized enterprises (SMEs), like SafeFlex globally, with communities of investors. It allows them to buy and sell individual invoices through a secure and technologically proprietary invoice exchange platform.
CEO and Chairman of SafeFlex International Limited, Jitesh Agrawal said:
“SafeFlex is delighted to form this long-term partnership with Incomlend. Their fast-execution model of invoice financing program provides us with the cash flow we need to grow our business and operations. This will position our business in a stronger position for growth as economies start to recover and demand for our products continues to increase.”
Incomlend CEO and Co-Founder Morgan Terigi commented:
“The appetite for FIBCs and bulk bags is expected to increase in the coming months as economies reopen globally and global trade becomes increasingly active. India being one of the largest suppliers of FIBCs and bulk bags in the world, manufacturers have a tremendous opportunity for growth.As a company with strong roots in the Indian manufacturing industry, Incomlend has an unwavering commitment to supporting SafeFlex and SMEs worldwide growth in their business and production. Our fast turnaround solutions will provide them with the financial means to build their export capacity and generate new revenue streams.”
For more information about Incomlend, please visit https://www.incomlend.com/.
Incomlend is a global invoice finance marketplace for corporate and private equity. Founded in 2016, the Singapore-based company has processed over 2,300 transactions and provides invoice financing services in over 50 countries around the world. As one of the world’s first alternative cross-border trade finance platforms, Incomlend enables companies to fund their export bills by selling them to institutional investors at a discount. For more information, visit www.incomlend.com.
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