Zvilo secured the terms of the new facility as it prepared to scale its SME supplier loans in the Balkans.
Credit-led challenger, Zvilo, has signed a term sheet with a leading London-based alternative asset management company for a new loan facility of up to m 50m.
Zvilo is transforming business loans in the Balkans by providing short-term working capital benefits to SMEs across different price chains. The provider’s financing program will be further automated through Zvilo’s proprietary platform, combining scale and accessibility from the start.
The new facility will enable Zvilo to transform into the region’s traditional banking sector and revolutionize how SMEs can access working capital.
Adamir Emami, chairman of Zvilo, commented: Zvilo is working on the proposal that supplier financing is a well-penetrated product in Western Europe but not in the Balkans, where opportunities abound. We aim to offer bridge capital to businesses that seek to finance trade flows in and out of the Balkans. “
“The 50m euro facility will enable us to turbocharge our business loans in Kosovo, after which the rest of the region will provide innovative working capital solutions to SMEs. This is especially important in the post-Covid world because SMEs want to bring trading levels back to pre-Covid times. Our uninterrupted and sustainable funding solutions will help these SMEs with the liquidity they need to reach their pre-covid trading level as well as take advantage of our digital financial product offers, ”said Mr. Emami.
Zhemilo’s Chief Financial Officer (CFO) and Chief Operating Officer (COO) Shahem Samin commented: “This announcement is a huge vote of confidence in Zvilo’s business model. Following the recent success of securing our lending (factoring) licenses from the Central Bank of Kosovo, we have launched our supplier finance program and are excited to optimize our innovative supply chain finance platform with an artificial intelligence engine. The platform will be an invaluable tool for Zvilo to assist its SME providers onboarding and financing across the Balkans and our ESG reporting.
“Securing the terms of such benefits is a huge endorsement of Zvilo’s management and the international investor community’s willingness to support such a national team and to invest in a market like the Balkans,” Mr Simine concluded.
Zvilo is a digital platform that seeks to unlock capital for the Balkans across Europe. The company plans to offer digital financial solutions based on cost-saving, convenience, connectivity and accessibility. Focusing on the Balkans, with a population of over 21 million and a worldwide population of over 6 million, Zvilo is set to become the leading digital financial platform offering both business and personal products through its dedicated app.