Demica reaches $20bn of funding outstanding as banks drive trade transformation
The market-leading Demica Platform, used by the world’s leading trade banks and corporates to power their supply chain finance programmes, has reached a milestone $20bn in funded programmes outstanding. Defined as the aggregate level of committed facilities or assets outstanding this represents well over $130bn of funded volume globally across its customers’ payables and receivables facilities.
In response to corporates’ increased focus on supply chains and working capital, banks all over the world have looked to build working capital solutions for their local markets. The long-term demand for best-in-class technology and true multi-product flexibility has meant that the Demica Platform has grown at 30% per year over the past seven years.
Able to accommodate the full range of open account trade finance products, the Demica Platform is now being used by the world’s leading trade banks across Europe, North America, South America, Asia, the Middle East and Africa. In 2021 alone, Demica grew annualised recurring revenue by 37%, evidencing the strength of the business and the accelerating demand for its Platform and supply chain finance solutions.
Commenting on reaching $20bn, Demica CEO Matt Wreford said, “We are delighted to hit this milestone with growth continuing through the pandemic period. Through our recent partnerships with leading trade banks such as HSBC and Standard Chartered, as well as major institutions like Mastercard, we are confident that our high growth rate will continue through 2022 and beyond.”
