Kyriba Launches New Working Capital Solutions to Close the $3.4 Trillion Trade Financing Gap
Published: October 14, 2021
SAN DIEGO – October 14, 2021 – Kyriba announced the launch of new Kyriba Working Capital Solutions as part of its bold effort to close the reported $3.4 trillion trade financing gap[1] and help corporate buyers support all suppliers, especially at risk SME suppliers. The Company further invested in its Working Capital Solutions team and is rapidly growing its marketplace of global funding partners to improve access to liquidity amid a historic disruption to international trade.
“The pandemic has created unprecedented risk in global supply chains. Suppliers are being crushed financially as they wait the additional weeks and months it now takes to get products to market,” said Jean-Luc Robert, Chairman and CEO of Kyriba. “Our solutions help mobilise liquidity, injecting cash into supply chains so global suppliers receive the financial lifeline they need to survive.”
Kyriba has launched new capabilities to help buyers accelerate access to liquidity and mitigate supply chain risk with greater flexibility, certainty, and corporate responsibility.
“Kyriba is removing barriers to adopting working capital solutions that improve the access to liquidity for SMEs,” said Abhijit Prasad, SVP Working Capital Finance at Kyriba. “We haveinvested in our team, delivered product innovation, and added new global funding partners to deliver even greater capacity to serve the growing demand for working capital solutions anywhere in the world.”
Kyriba’s Working Capital Solutions were recently awarded by Global Finance Magazine as the 2021 global winner of Best Supplier Enablement for its automated and transparent supplier onboarding operations. In the past 12 months, Kyriba facilitated more than $7 billion in early payments across 1.5 million invoices to over 50,000 suppliers in 50 countries. In 2021, the Company expects financing to exceed $10 billion – a more than 40% increase over 2020.
For more information about Kyriba’s Working Capital Solutions, visit Kyriba.com/workingcapital or visit us at upcoming Trade Finance conferences, including the Working Capital Forum in London on October 14, 2021 and the GTR conferences in London, Stockholm and New York.
[1] Global trade now faces a $3.4 trillion financing gap - CNBC