Published: November 23, 2022
Fintech Nebix has launched in the Qatar Financial Centre, in the latest attempt to convince the tech-wary trade finance lenders to embrace a way of doing business that does not rely so heavily on pen and paper.
Nebix is a trade finance platform that matches exporters and importers with trade finance providers.
It does not provide financing itself, rather it lets users input parameters – a bank only willing to lend up to US$50mn in certain jurisdictions, for example – and then matchmakes the user with someone requiring finance, and vice versa. Nebix has plans in the future to apply for a full license so it can execute trade financing itself.
“One of the great advantages of the platform, is its unrestricted geography,” Fadi Saab, Nebix chairman, told EMEA Finance. “It is not applicable only to corporations in local jurisdictions.”
This means that an exporter in Kazakhstan might be able to get financing from a bank in Qatar, London, or Paris, something that the exporter would not have had access to without the system.