“We are delighted to have been awarded the ‘Best New Trade Finance Technology Provider UAE: 2022’ in the Banking and Finance awards. This is in recognition of our user-friendly and seamless Fintech platform” – Pankaj Mundra, Co-Founder and Chairman 360tf- a Nimai Initiative.
360tf enables global trade finance. It is an online, robust, state-of-art marketplace which brings the trade world closer by connecting importers and exporters with 360tf network banks to facilitate LC financing.
360tf is one of the few platforms that reduces turn-around time in sourcing competitive quotes from banks on LC confirmation and discounting.
In the traditional process flow corporates have very few options to choose from amongst relationship banks for trade financing facilities. With 360tf this is now a dynamic digital experience where transactions and quotes are actioned in real time.
“This award is another feather in the cap which showcases that our initiative has hit the right trade finance gap. Our aim is to facilitate trade finance and working capital requirements for every importer and exporter.” said Vikram Lodha, CEO & Co-founder 360tf.
At 360tf, we have poured decades of experience & expertise in dealing with clients across the globe on their Trade Finance requirements. In the short period since its inception, 360tf has amassed a Gross Transaction Value (GTV) of $700 million+ and a user base of 200+ corporates from ten countries majorly from India &UAE with an annual turnover of $85bn.
London, Hong Kong, Singapore & Tokyo, 16 February 2022 – Bolero International, the leading provider of cloud-based trade finance digitization solutions announce their partnership with 360tf; a leading digital trade finance platform that connects banks and corporates from across the globe and enables them to seamlessly manage their trade financing requirements.
The combination of 360tf and Bolero’s offerings will allow corporates to gain greater efficiencies in digitizing the end-to-end process from applying for transactions to arranging trade financing. Bolero’s innovative Galileo Multi-Bank for Corporates platform will allow 360tf’s corporate users to digitize their LC flows and improve the visibility of their LC transactions while lowering the cost and risk of transacting with multiple banks.
With this combined offering, 360tf will expand the number of services to their existing corporate users and add significant value to their overall proposition through the Galileo Multi-Bank functionality.
Andrew Raymond, CEO at Bolero International said “We have been impressed by the team at 360tf and we believe that our product offering will complement 360tf’s existing clientele. By providing the 360tf corporate users with access to Bolero’s Galileo LC functionality and Bank network we believe that digitization of trade flows for LC’s is now in reach of the mass market.”
Raymond added; “There is a big corporate demand to utilize proven solutions from leading providers such as 360tf and Bolero. Our partnership is important to our long-term strategy as well as the expansion of our Galileo solutions in Asia and the Middle East.”
Vincent Acors, Bolero’s Director of Trade Finance, APAC added “360tf’S clients are part of an ever-growing number of corporates who need and want to digitize their communication with their banks. In turn, 360tf Banks that are not already on the Galileo platform will be looking to join the ecosystem to assist corporates. I look forward to working with the 360tf team to achieve a stronger offering to our respective clients.”
Co-Founder of 360tf Pankaj Mundra said “At 360tf, we have poured decades of experience & expertise in dealing with clients across the globe on their Trade Finance requirements. In the short period since its inception, 360tf has amassed a Gross Transaction Value (GTV) of $375 million+ and a user base of 140+ corporates from ten countries with an annual turnover of $10bn. We are excited to be at the cusp of a new future for Trade Finance and are ecstatic to join hands with Bolero on this journey ahead. We endeavor to onboard 1,000 clients before the end of the year and are confident that through this collaboration, Bolero shall gain significant clientele through the combined solution offerings. “
Vikram Lodha CEO also added: “We strongly believe that challenges are just stepping-stones for innovation and overcoming them lays the platform for a successful revolution! We are delighted to be part of this revolution and have vowed to deliver solutions to address challenges faced by clients across the globe in accessing trade finance – as a start, we have brought down the turn-around time for arranging Trade Finance by 50 percent”
About Bolero International
Established in 1998 by SWIFT and the global logistics and insurance industry, Bolero International has built a formidable reputation and market leadership position in driving the digitization of global trade. Bolero delivers secure, end-to-end, cloud-based services across the entire global supply chain. By digitizing trade processes and transactions.
About Galileo Multi-Bank for Corporates
Galileo Multi-Bank for Corporates enables corporates to transact on a single platform instead of multiple bank platforms advising and applying for LC’s, Stand by LC’s, Bank Guarantees, e-presentations, and electronic bills of lading. Corporates can access all of their trade finance transactions and services 24hrs a day regardless of department, subsidiary, or geographic location. Significant features in Bolero’s Galileo provide the visibility and control of the corporate over the end-to-end process.
Banks also benefit from a greater scope of innovation through Galileo, the solution helps financial institutions achieve faster communication to their corporate customers, helping to manage advice, application, and discrepancies digitally, reducing transaction times, resources, and all within a secure environment.
Backed by over a decade of Trade Finance expertise, 360tf is a Nimai group endeavor to build a novel ecosphere that instantly connects businesses and financial institutions across the globe to fund trade flows on the best of terms.
While 360tf is Headquartered in Singapore, Nimai as a group is present in UAE, Qatar, Kenya, Nigeria, Bangladesh, Sri Lanka & India with associate partners and clients in more than 40 countries including significant coverage in Africa, South Asia, GCC & Europe. Nimai group also cherishes 250+ relationships with various Financial Institutions comprising Commercial Banks, Debt and Sectoral Funds, Private Equity Funds, Multilateral Agencies, Alternate Financing Institutional Funds, and Development Financial Institutions with a specific focus on Trade Financing. With a track record of facilitating trade finance transactions of USD 2 billion the group is best positioned to digitize financing in the industry through 360tf.
To serve its clients better in Bangladesh, 360tf, a digital trade finance platform that connects banks and corporates from across the globe for seamless management of LC financing requirements, has recently appointed Mir Shahriar Ahmed as the Country Head in Bangladesh.
With over 20 years of experience as a Wholesale Banker, Ahmed has focused on the Trade Finance business in esteemed positions with reputed financial institutions like Emirates NBD Bank, Mashreq Bank and Standard Chartered Bank.
Within only 5 months of beginning operations, 360tf has raised USD 1.5 million in seed capital. The company has amassed a Gross Transaction Value (GTV) of 150Million+ and a user base of 110+ corporates from 7 countries including Bangladesh with an annual turnover of USD 10 billion.
Mir Shahriar Ahmed, Country Head, 360tf Bangladesh said, “Thanks to 360tf, for the omni-sector corporates on the platform, a process that was previously a tedious multi-channel exercise is now a simple single-channel access to a world of trade finance.”
Pankaj Mundra, Chairman & Co-founder, 360tf said, “The 360 degrees of trade finance covered by us includes distribution of trade assets, open account financing, insurance, FX, and a few surprise offerings to provide a ‘one-stop’ shop for trade financing worldwide.”
Doha: 360tf, a digital trade finance platform that connects banks and corporates from across the globe and enables them to seamlessly manage their LC financing requirements, has raised $1.5m within five months of going live.
The round was led by industry scholars and professionals associated with the founders across six countries.
360tf is the culmination of Nimai’s decade-long Trade Finance advisory experience and years of ideation on the technology side headquartered out of Singapore with a physical presence in Dubai, India, Bangladesh, and Qatar. 360tf aims to disrupt the manual, inefficient, and expensive task of scouting LC financing for these stakeholders by creating a ubiquitous digital platform. The platform brings market efficiency to a largely offline, ad-hoc and unstructured yet crucial piece of trade financing. It brings several benefits such as non-recourse financing, low single digit interest and market confidence to high-risk countries.
Within five months of going live, 360tf has amassed a Gross Transaction Value (GTV) of 125 million+ and a user base of 110+ corporates from seven countries with an annual turnover of $10bn.
360tf network banks are domiciled across the globe and include international banks with robust balance sheets as well as regional and domestic banks.
For the omni-sector corporates on the platform, a process that was previously a tedious multi-channel exercise is now a simple single-channel access to a world of trade finance.
360tf is a scalable cloud-based platform that will leverage new technology trends to solve pressing problems in trade finance such as the tokenisation of trade assets for distribution to untapped non-bank liquidity sources. The Co-founders, CA Pankaj Mundra, Capt Sunil Saraf, CA Nisarg Dugad and Vikram Lodha, come with an extensive experience in financial services. They are leveraging on their prior experiences of working with corporates and banks in order to fill a Trade Finance business gap and deliver a superior customer experience.
To serve its clients better in Qatar, Minakshi Miglani has joined 360TF as the Senior VP & Head Coverage for Qatar and Oman. Miglani has been leading Qatar business from the last five years as Director of Nimai Management Consultants (a QFC registered company) and leading the operations in Qatar. She brings in experience of the corporate finance and advising clients on financial solutions for raising new debt capital or reducing the borrowing costs.
“We have got fantastic response from both SME and large corporate clients across the globe, and we are adding almost one client per day. We are aiming to onboard 1,000 clients before the end of the year. 360tf will cover 360 degrees of trade finance and it will include distribution of trade assets, open account financing, insurance, FX, and a list of surprise offerings to provide a ‘one-stop’ shop for trade financing worldwide,” said Pankaj Mundra, Chairman & Co-founder of 360tf.
“We have brought down the turn-around time by more than 50 percent. Our customers process more than 50 LCs a month and utilise our flat pricing structure. They have realised significant gains in terms of time, effort, cost-savings, and operational efficiency by using the 360tf platform,” added Vikram Lodha, CEO & Co-founder at 360tf.