Supply@ME Capital has announced that it has made its move to enter the US market by reaching a strategic agreement with The Trade Advisory, founded by Anthony Brown.
Brown has over 30 years’ experience in supply chain finance in the US including head of international factoring at Ally Financial as well as founding and managing US divisions of Bibby Financial Services.
Trying to size up the market for SYME, both parties put an estimate of the inventory finance market being with $1 trillion in the US.
Commenting on the strategic move was Alessandro Zamboni:
“The United States is an enormous potential market for Supply@ME. Our Platform can play a distinctive role supporting US companies via innovative, scalable transactions. Similar facilities have recently been announced by Bank of America and Macy’s. This is further evidence that our inventory monetisation platform can really support corporates to manage their working capital more efficiently and continue to grow.
I’m delighted that Mr Brown and his business, The Trade Advisory, share my vision, and recognise the impact that Supply@ME can have in the United States.”
Plans for SYME’s international expansion are at the core of the Company’s business strategy. The Company will continue to update investors as activities progress.”
The share price of SYME surpassed 0.60p following the news.