Date: 24/06/2022

Challenger Management partners with DP World to finance trade in emerging markets

DP World has announced a partnership between CARGOES Finance By DP World and Challenger Management Limited, allowing customers to access working capital solutions from the global trade finance fund.
CARGOES Finance By DP World is a fintech platform that brings together global importers, exporters and logistics companies in need of financing from around the world with financial institutions. CARGOES Finance also provides lenders with access to data on cargo movements, enabling them to lend with confidence.
Under the partnership, CARGOES Finance will provide Challenger with digital tools to improve paper-heavy processes, KYC (know your customer) and anti-money laundering information on clients, valuable trade data throughout the supply chain and other risk-mitigating features on the platform.
Challenger, part of Fasanara Capital group investment house, has almost $100 million of capital deployed already. Challenger also provides systems to operate a marketplace for larger financial institutions to buy into deals that have already been financed by the fund, allowing greater funding options to traders.
With a focus on African and South American markets, Challenger offers funding access to customers in emerging markets, especially in exports, as per a release.
Source: Exim News Service: Dubai, June 23