The transaction concerned a shipment was under LC terms from CHIMEI in Taiwan to Kin San Chemical in Hong Kong with a short shipment duration of 2 days. The Bolero eBL was provided by Wan Hai Lines as part of the electronic presentation of documents, including CTBC Bank in Taiwan and Bank of China (Hong Kong) in Hong Kong.

Bolero’s Galileo platform made the exchange of electronic documents more efficient and secure, speeding up a process that previously took weeks as parties exchanged physical documentation across several countries.

The complete end-to-end flow of secure electronic documents took 3 days, streamlining a process that previously was a week or longer.

Bolero’s Galileo Galileo Multi-Bank for Corporates platform delivers enhanced functionalities and seamless integration with banks and other third-party systems and provides end-to-end visibility to corporate clients and banks. With the solution, CHIMEI is able to manage their ePresentations in one central platform.

With the increased demand in the digitisation of trade finance operations, Bolero has an interest peak amongst Taiwanese corporates and banks who are eager to digitalise their manual paper-based processes.

Bolero has the world’s biggest financial institutions directly connected to its 24/7 global network for paperless trade solutions – allowing for immediate settlement between parties. On Bolero’s global network, banks and corporates can exchange documents in real-time with 100% accuracy with complete audit trail and proof of delivery.

“We are delighted with our partnership with CHIMEI who recognise our expertise in this area and is working with us as we look to accelerate their digitisation efforts” said Bolero CEO Andrew Raymond. “The last year has seen an acceleration of the move towards digital trade in the region, driven by the desire to ensure supply chains stay open during times of crisis and uncertainty.”

“CHIMEI has always been committed to realize digital transformation. Through Bolero’s paperless trade solution, we reduce the risk of document sending, and reduce carbon emissions. We do our best to contribute to ESG practices, and continue to provide customers with faster, safer value-added services, build a trustworthy partnership with customers, and coexist and prosper together. ” said David Wang, vice president of CHIMEI’s Operation Head Division.

About Bolero International (WiseTech Global Group)

Established in 1998 by SWIFT and the global logistics and insurance industry, Bolero International has built a formidable reputation and market leadership position in driving the digitisation of global trade. Bolero delivers secure, end-to-end, cloud-based services across the entire global supply chain. By digitising trade processes and transactions.

Bolero International is now part of WiseTech Global.

About CHIMEI Corp.

CHIMEI is a Taiwan-based performance materials company that designs and manufactures advanced polymer materials, synthetic rubbers, and specialty chemicals. Companies from around the globe seek out CHIMEI to boost their products’ performance and durability, find a breakthrough in aesthetics, raise their production efficiency, and reduce their environmental impact.

Since its founding, CHIMEI has pursued 幸福 (Xingfu): Well-Being Through Contribution, the principle that contributing to society leads to success and fulfillment. This belief has guided CHIMEI since day one to focus all efforts on the greater good.

Discover how CHIMEI helps businesses aim higher, and steps up to its global responsibilities, at www.chimeicorp.com.

The post CHIMEI conducts transaction with partners on Bolero trade finance platform. appeared first on Bolero (WiseTech Global Group).

Headquartered in the United Kingdom and with over two decades of experience, Bolero offers fully digital solutions for carriers to digitize Bills of Lading, creating eBLs that can be transmitted, endorsed and presented electronically to port authorities, customs, financial institutions, logistics partners and other parties. This removes rekeying of paper-based and scanned documents with accurate, efficient digital documentation. All parties to the transaction can securely monitor progress and access information about ownership, progress and payment throughout the supply chain life cycle.

With a network of more than 200 carriers across the globe and some of the world’s biggest financial institutions directly connected, the vision for both WiseTech and Bolero is to enable end-to-end, digital-first trade documentation. This will allow for straight through processing of all data, converging the physical supply chain with digital financial and trade documentary requirements while offering a single view for all supply chain participants, including manufacturers, cargo owners, carriers, banks and service providers.

Richard White, Founder and CEO at WiseTech Global, said: “As the logistics industry continues to move toward digitization, the need for paperless solutions that provide end-to-end execution and visibility are critical. We see tremendous synergy in combining Bolero’s capabilities within the CargoWise ecosystem, creating seamless end-to-end digital workflows. The Bolero team’s knowledge and technology stack will be connected directly into the CargoWise ecosystem to provide benefits to existing CargoWise customers through the provision of leading eBL, digital documentation workflows and the digital connection to banking and settlement services.

“Our shared commitment to develop digital capabilities that enable and empower global trade means together we will continue to provide our customers with solutions to meet the future needs of the industry. We are excited to welcome Bolero into our global WiseTech team.”

Andrew Raymond, CEO of Bolero, said: “Joining the WiseTech Global group is a natural progression for our business, and a huge step forward for fully digital supply chain documentation, facilitating safer, smarter and faster global trade. Bolero has a proven track record with importers, exporters, ocean carriers, major banks, and port terminals. We are excited by the opportunity to enhance the leading CargoWise ecosystem and provide some of the world’s largest logistics service providers and carriers with digital documentation solutions. We remain committed to our long-standing customers and partners and continuing to enhance our solutions with the product development and innovation strength of WiseTech.”

About WiseTech Global

WiseTech Global is a leading developer and provider of software solutions to the logistics execution industry globally. Our customers include over 18,000 of the world’s logistics companies across more than 165 countries, including 41 of the top 50 global third-party logistics providers and 24 of the 25 largest global freight forwarders worldwide. Our flagship platform, CargoWise, forms an integral link in the global supply chain and executes over 72 billion data transactions annually.

Our mission is to change the world by creating breakthrough products that empower those that own, enable and operate the supply chains of the world. At WiseTech, we are relentless about innovation, adding over 5,000 product enhancements to our global platform since listing on the ASX in 2016 while bringing meaningful continual improvement to the world’s supply chains. Our breakthrough software solutions are renowned for their powerful productivity, extensive functionality, comprehensive integration, deep compliance capabilities, and truly global reach.

For more information about WiseTech Global or CargoWise, please visit wisetechglobal.com and cargowise.com

PRESS RELEASE CONTACTS

Marijana Okanovic | marijana.okanovic@wisetechglobal .com | + 2 8001 2200

The post WiseTech Global extends digital documentation offering with acquisition of Bolero.net Limited appeared first on Bolero (WiseTech Global Group).

The two industry leaders will work together to improve the visibility, transparency, and efficiency of trade transactions by using Bolero’s electronic bill of lading solution.

In March 2022, HMM successfully completed its trial use of the electronic bill of lading between India and China, using Bolero’s Galileo platform. HMM’s customers are expected to receive reliable paperless services without any changes or disruptions to business operations.

Leveraging Bolero’s global network of banks, HMM expects continued growth in 2022 working with Bolero on the use of eBLs in Asia.

Bolero’s electronic Bill of Lading (eBL) solution is the trusted replacement for paper Bills of Lading, helping major importers and exporters to reduce the risk and cost of paper-based documents in trade and finance. One of the industry’s most widely used eBL solutions, Bolero has a proven track record with major banks, traders, shippers, shipping lines and port terminals.

The eBL solution enables eBL to be created, transmitted, endorsed, and presented to port authorities or customs electronically, removing many of the inefficiencies associated with paper-based processes. Capturing data electronically at every stage of a transaction, also allows parties to monitor progress as well as access accurate information about ownership and payment throughout the supply chain.

Bolero has the world’s biggest financial institutions directly connected to its 24/7 global network for paperless trade solutions – allowing for immediate settlement between parties upon receipt of an eBL. On Bolero’s global network, banks and corporates can exchange eBLs in real-time with 100% accuracy, i.e., a complete audit trail and proof of delivery. Bolero provides a secure, paper-free means for banks to exchange eBL with other banks, corporates, and shipping lines.

“We are delighted that HMM recognises Bolero’s expertise in this area and is working with us as we look to accelerate the growth of eBLs across Asia,” said Bolero CEO Andrew Raymond. “The last year has seen an acceleration of the move towards digital trade, driven by the desire to ensure supply chains stay open during times of crisis and uncertainty.”

“We are pleased with the successful collaboration with Bolero in digital solutions. Eliminating paper-based documents will make the shipping transaction easier, faster, and more secure.” said HMM Chief Operating Officer, Park, Jinki.

“We believe introducing the eBL solution is a significant step in the right direction, and HMM will be committed to providing customers with a digital trade platform that can increase the efficiency and velocity of trade.”

About Bolero International

Established in 1998 by SWIFT and the global logistics and insurance industry, Bolero International has built a formidable reputation and market leadership position in driving the digitisation of global trade. Bolero delivers secure, end-to-end, cloud-based services across the entire global supply chain. By digitising trade processes and transactions.

About HMM Co., LTD

HMM is South Korea’s national flagship carrier headquartered in Seoul with more than 45 years of experience within the shipping industry. As one of the world’s leading container shipping companies, HMM operates worldwide logistics services with a global fleet of over 100 state-of-the-art vessels. HMM strategically collaborates with customers to develop customised supply chain solutions for dry, refrigerated, and other specialised cargo.

PRESS RELEASE CONTACTS

Bolero International:

For media enquiries please contact:

The Whiteoaks Consultancy

Tel: + 44 (0) 1252 727313

Email: bolero@whiteoaks.co.uk

HMM Co., LTD:

For media enquiries please contact:

Public Relations Office

Tel:  +82 2 3706 6020, 6030

Email: hj.kim@hmm21.com; hojoon.lee@hmm21.com

The post Bolero and HMM join forces to accelerate eBL growth in Asia. appeared first on Bolero (WiseTech Global Group).

The COVID-19 pandemic has underscored the importance and fragility of global supply chains and how disruptions have costly impacts on interconnected global economies. This has fueled demand for a wide range of digital solutions, including the use of electronic bills of lading, a key shipping document facilitating the transfer of title of the goods. Until now, organizations were often forced to use multiple solutions to address the complexity and diversity of the challenges in global trade, resulting in an inconsistent approach and disjointed customer experience.  

Bolero’s trade finance digitisation platform, Galileo, securely connects corporate clients with their trade partners and banks and allows corporates to manage all their Letters of Credit, Guarantees, Standby LCs, ePresentations under LCs, Open Account and Documentary Collections, and electronic bills of lading in one central solution.  

The TradeLens eBL simplifies the issuance, transfer, and surrender of original shipping document in structure format allowing for the digitisaion and automation of supply chain and financial processes. It is an eBL solution accepted by industry, including ocean carriers, banks, and regulators.  

In this collaboration, TradeLens eBL will be integrated into Galileo, connecting the two platforms’ respective and growing networks of banks, corporates, and supply chain participants. This will provide a streamlined and seamless experience for users of Galileo who wish to leverage TradeLens eBL’s carrier network. 

Andrew Raymond, Bolero CEO said “Bolero has a vision to connect the physical and financial flows to digitise trade finance. For this to happen, we need to be able to provide a common view of the data and documentation that is shared between all parties in the supply-chain process. Our investments in the Galileo platform make this possible.” 

“Our strategy with Tradelens is to provide access to the TradeLens Electronic Bill of Lading from within the Bolero Galileo application. This will leverage the Bolero bank network to more easily connect corporates and banks involved in financing goods in transit. Our goal is to become an aggregator of various electronic documents in Trade to provide a single point of access to our clients and giving both Banks and corporates the ability to easily access and exchange these documents as part of their Trade transaction flows.” added Raymond.  

“We developed TradeLens as an open and neutral industry platform. Our open APIs and simplified onboarding allow corporates and banks to use our digital services, including the TradeLens eBL, when and where they need it. The Integration with Bolero will help increase trade velocity across our business networks and accelerate the industry wide move toward paperless trade finance transactions”, said Michael White, CEO of GTD Solution and the TradeLens platform.  

The approach of integrating solutions where customers need them is common in the digital realm, which means users of technology gain access to best-in-class services without additional or multiple integrations. This collaboration is a practical example of connectivity for global trade and platforms and enables local communities in emerging and developed markets to participate in financial and trade opportunities.  

About Bolero International

Established in 1998 by SWIFT and the global logistics and insurance industry, Bolero International has built a formidable reputation and market leadership position in driving the digitisation of global trade. Bolero delivers secure, end-to-end, cloud-based services across the entire global supply chain. By digitising trade processes and transactions.

About TradeLens

TradeLens is an open and neutral industry platform underpinned by blockchain technology, supported by major players across the global shipping industry. The platform promotes the efficient, transparent, and secure exchange of information to foster greater collaboration and trust across the global supply chain. For more information, please visit www.tradelens.com 

PRESS RELEASE CONTACTS

Bolero International:

For media enquiries please contact:

The Whiteoaks Consultancy

Tel: + 44 (0) 1252 727313

bolero@whiteoaks.co.uk

TradeLens:

For media enquiries please contact:

Ben Haddock 

Tel:  +1 551 256 9353 

ben.haddock@gtdsolution.com

The post Bolero and TradeLens join forces to accelerate electronic bill of lading adoption across the global shipping industry. appeared first on Bolero (WiseTech Global Group).

The combination of 360tf and Bolero’s offerings will allow corporates to gain greater efficiencies in digitising the end-to-end process from applying for transactions to arranging trade financing. Bolero’s innovative Galileo Multi-Bank for Corporates platform will allow 360tf’s corporate users to digitise their LC flows and improve the visibility of their LC transactions while lowering the cost and risk of transacting with multiple banks.

With this combined offering, 360tf will expand the number of services to their existing corporate users and add significant value to their overall proposition through the Galileo Multi-Bank functionality.

Andrew Raymond, CEO at Bolero International said “We have been impressed by the team at 360tf and we believe that our product offering will complement 360tf’s existing clientele. By providing the 360tf corporate users with access to Bolero’s Galileo LC functionality and Bank network we believe that digitization of trade flows for LC’s is now in reach of the mass market.”

Raymond added; “There is a big corporate demand to utilise proven solutions from leading providers such as 360tf and Bolero. Our partnership is important to our long-term strategy as well as the expansion of our Galileo solutions in Asia and the Middle-East.”

Vincent Acors, Bolero’s Director of Trade Finance, APAC added “360tf’S clients are part of an ever-growing number of corporates who need and want to digitise their communication with their banks. In turn 360tf Banks who are not already on the Galileo platform will be looking to join the ecosystem to assist corporates. I look forward to working with the 360tf team to achieve a stronger offering to our respective clients.”

Co-Founder of 360tf Pankaj Mundra said “At 360tf, we have poured decades of experience & expertise in dealing with clients across the globe on their Trade Finance requirements. In the short period since inception, 360tf has amassed a Gross Transaction Value (GTV) of $375 million+ and a user base of 140+ corporates from ten countries with an annual turnover of $10bn. We are excited to be at the cusp of a new future for Trade Finance and are ecstatic to join hands with Bolero on this journey ahead. We endeavor to onboard 1,000 clients before end of the year, and are confident that through this collaboration, Bolero shall gain significant clientele through the combined solution offerings. “

Vikram Lodha CEO also added: “We strongly believe that challenges are just stepping-stones for innovation and overcoming them lays the platform for a successful revolution! We are delighted to be part of this revolution and have vowed to deliver solutions to address challenges faced by clients across the globe in accessing trade finance – as a start, we have brought down the turn-around time for arranging Trade Finance by 50 percent” 

About Bolero International

Established in 1998 by SWIFT and the global logistics and insurance industry, Bolero International has built a formidable reputation and market leadership position in driving the digitisation of global trade. Bolero delivers secure, end-to-end, cloud-based services across the entire global supply chain. By digitising trade processes and transactions.

About Galileo Multi-bank for Corporates

Galileo Multi-Bank for Corporates enables corporates to transact on a single platform instead of multiple bank platforms advising and applying for LC’s, Stand by LC’s, Bank Guarantees, e-presentations and electronic bills of lading. Corporates can access all of their trade finance transactions and services 24hrs a day regardless of department, subsidiary, or geographic location.  Significant features in Bolero’s Galileo provide the corporates visibility and control over the end-to-end process.

Banks also benefit from a greater scope of innovation through Galileo, the solution helps financial institutions achieve faster communication to their corporate customers, helping to manage advice, application and discrepancies digitally, reducing transaction times, resource and all within a secure environment.

About 360tf

Backed by over a decade of Trade Finance expertise, 360tf is a Nimai group endeavor to build a novel ecosphere that instantly connects businesses and financial institutions across the globe to fund trade flows on the best of terms.

While 360tf is Headquartered in Singapore, Nimai as a group is present in UAE, Qatar, Kenya, Nigeria, Bangladesh, Sri Lanka & India with associate partners and clients in more than 40 countries including significant coverage in Africa, South Asia, GCC & Europe. Nimai group also cherishes 250+ relationships with various Financial Institutions comprising Commercial Banks, Debt and Sectoral Funds, Private Equity Funds, Multilateral Agencies, Alternate Financing Institutional Funds and Development Financial Institutions with a specific focus on Trade Financing. With a track record of facilitating trade finance transactions of USD 2 billion the group is best positioned to digitize financing in the industry through 360tf.

PRESS RELEASE CONTACTS

Bolero International:

For media enquiries please contact:

The Whiteoaks Consultancy

Tel: + 44 (0) 1252 727313

bolero@whiteoaks.co.uk

360tf:

For media enquiries please contact:

Lakshya Pandey

Tel: +91 9549 303360

Lakshya.Pandey@360tf.trade

The post Bolero International announces major partnership with 360tf for the expansion of Galileo Multi-Bank for Corporates in Asia, Middle East, and other geographies. appeared first on Bolero (WiseTech Global Group).

The innovative solution helps financial institutions provide their corporate clients with unrivalled functionality and a transformed digital experience. For the very first time, banks can achieve an accelerated time to market and an overall lower cost of deployment as compared to traditional trade finance digitisation options.

Galileo TPaaS allows corporates to conduct traditional trade and open account transactions and leverages the structured communication processes and electronic trade documents, making Bolero a leader in trade finance digitization. Over time, Bolero will work with like-minded fintechs to expand the functionality and services available to Galileo users.

The white-labelled solution is built on Bolero’s secure SaaS platform Galileo and is available on-demand as a fully managed service on the cloud.

“Galileo TPaaS fits well into our vision of an eventually end-to-end digital trade business. The collaboration with Bolero brings us one, significant step closer. The Galileo TPaaS core allows us to offer a great user experience to our customers”, said Didier Furrer, Product Manager Trade & Export Finance at UBS.

Galileo TPaaS for Banks is the world’s first white-labelled Trade Finance portal-as-a-service; the fastest and most secure way to revolutionise customer experience.

Andrew Raymond, CEO at Bolero International added: “We are very pleased having gained UBS as a first flagship client. This allows us to deliver a unique and compelling offering to corporates through a branded portal. It helps realise our vision for corporates to embrace digitization of trade finance and will drive adoption in other areas of our business. The great teamwork and sharing of ideas have accelerated our plans in this space, and we are excited to announce further client acquisitions in due time.”

Bolero’s Chief Product Officer, Anchal Tiwari also added: “The signing of a major European bank leads Bolero to the next chapter of its growth and success. Galileo TPaaS will be fully integrated into their back-end systems which will allow end-to-end digitization of trade transactions requests by corporate clients. With Galileo TPaaS, the bank will be able to tap into Bolero’s connected digital ecosystem and offer out-of-the-box multi-bank trade finance services and ready carrier connectivity to their clients.”

For more information on Galileo TPaaS for Banks and how it can help your bank today, request your free consultation here.

About Bolero International

Established in 1998 by SWIFT and the global logistics and insurance industry, Bolero International has built a formidable reputation and market leadership position in driving the digitisation of global trade. Bolero delivers secure, end-to-end, cloud-based services across the entire global supply chain by digitising trade processes and transactions.

Press release contacts

The Whiteoaks Consultancy

Email: joannae@whiteoaks.co.uk | Tel: +44 (0) 1252 727313

UBS Media Relations

Email: mediarelations@ubs.com | Tel: +41-44-234 85 00

The post Bolero announces flagship client for Galileo TPaaS for Banks; the industry’s first white-labelled trade finance portal-as-a-service solution. appeared first on Bolero (WiseTech Global Group).

Paul Mallon will take up the role of COO Asia-Pacific and will be leading Bolero’s ambitious global growth strategy as trade finance digitisation thrives in the region. This move will provide increased engagement with Bolero’s clients, partners, and other stakeholders in the region.

Andrew Raymond, CEO at Bolero International said “Asia has always been important to Bolero and we see great potential to grow and thrive as digitisation efforts accelerate across the region.”

“With Paul taking up this role in Singapore, we will be better able to support our plans for expansion in Asia.  Paul will provide much-needed senior management presence and expertise to drive the growth that our new Galileo offerings make possible.”

Paul is the co-founder of Bolero and a Maritime law expert specialising in Bills of Lading. He is the architect of the Bolero Rulebook and Bolero’s legal structures. In addition to his new responsibilities, Paul will continue as General Counsel.

Press release contacts

Joanna Elliott  | The Whiteoaks Consultancy

Email: joannae@whiteoaks.co.uk | Tel: +44 (0) 1252 727313

The post Bolero Supports Growth Across Asia-Pacific (APAC) with the Relocation of Bolero Co-founder Paul Mallon. appeared first on Bolero (WiseTech Global Group).

With trade finance digitisation kicking into a higher gear as well as Bolero’s continued investment into its platforms, the market has received its latest innovations with tremendous enthusiasm following the release of Galileo TPaaS for Banks.

Andrew Raymond, CEO at Bolero International said “Our Galileo platform has allowed our existing clients to expand and intensify their digitisation efforts. And our new clients are excited by the unique set of features of our platform such as Letters of Credit, Guarantees and the ePresentation functionality using electronic bills of lading.

“To support our rapid growth, we’ve appointed Chris Broster as our Chief Financial Officer. I’m delighted that Chris has become our CFO and I look forward to working with him as we embark on the next stage of our journey.”

Chris joined Bolero in 2017 and during his time at Bolero, he has developed a great understanding of the business and the trade finance industry as a whole.

Before Bolero, Chris worked at BDO as an auditor with coverage across a multitude of clients covering energy, not-for-profit organisations, educational institutions, construction companies, and housing associations. Chris graduated from the University of Nottingham and worked in Madrid at Accenture after graduation.

About Bolero International

Established in 1998 by SWIFT and the global logistics and insurance industry, Bolero International has built a formidable reputation and market leadership position in driving the digitisation of global trade. Bolero delivers secure, end-to-end, cloud-based services across the entire global supply chain by digitising trade processes and transactions.

Press release contacts

Joanna Elliott  | The Whiteoaks Consultancy

Email: joannae@whiteoaks.co.uk | Tel: +44 (0) 1252 727313

The post Bolero sees great network growth and promotes Chris Broster to the CFO role. appeared first on Bolero (WiseTech Global Group).

Based out of Bolero’s Singapore office, Vincent will be responsible for business operations and Bolero’s growth strategy to build on the company’s growing presence in the region.

Vincent joins Bolero from MonetaGo, financial technology solutions provider where he was the Head of Business Development for APAC.

Prior to Bolero, Vincent amassed 27 years of experience in emerging technologies globally, with extensive knowledge of telecoms-based SaaS platforms and significant relationships with Banks, NBFI’s, governments and corporates in the region. His wealth of experience will enable him to fit seamlessly into the team.

Vince said “It’s a great time to join Bolero. The technology is innovative and relevant on a global scale. The last 17 months have proven that digitisation is essential. I’m looking forward to maximising the opportunity whilst maintaining Bolero’s position as No.1 and best practice for banks and corporates in Asia.”

Andrew Raymond, CEO of Bolero said: “It’s great to have Vincent join the Bolero family. His appointment comes at an exciting time for the company as we continue to grow in the region. And with the recent shift towards trade finance digitisation in the region, this creates tremendous opportunity for us.”

Raymond added, “ We continue to be a magnet for highly talented individuals and Vincent will ensure we realise the strong potential we see in the region and bring more value to our customers.”

Following the release of Bolero’s innovated trade portal-as-a-service solution Galileo TPaaS for Banks solution earlier this year, the product has generated enormous waves of enquiries across the region from large international banks to multi-lateral organisations and new virtual banks.

About Bolero International

Established in 1998 by SWIFT and the global logistics and insurance industry, Bolero International has built a formidable reputation and market leadership position in driving the digitisation of global trade. Bolero delivers secure, end-to-end, cloud-based services across the entire global supply chain by digitising trade processes and transactions.

Press release contacts

Bolero International:

Joanna Elliott  | The Whiteoaks Consultancy

Email: joannae@whiteoaks.co.uk | Tel: +44 (0) 1252 727313

The post Vincent Acors Joins Bolero International from MonetaGo as new Trade Finance Director for APAC. appeared first on Bolero (WiseTech Global Group).

TradeFlow leverage Galileo as the platform delivers greater functionality and seamless integration with banks and other third-party systems, providing end-to-end visibility to corporate clients and banks, and supports the world’s largest, carriers, corporates and financial institutions.

Collaborating with Bolero on the Galileo platform has allowed industry-leading firms like TradeFlow Capital Management (TradeFlow) to offer access to a broader range of shipping and trade counterparts for the SME Commodity firms TradeFlow supports via its innovative trade enabling fund solution and to meet its ESG goals more effectively and efficiently.

Andrew Raymond, CEO of Bolero says: “TradeFlow has been a valuable partner to Bolero over the years with our shared goals of optimizing trade through digitisation, reducing processing times whilst increasing clarity for end-users. TradeFlow have been a key advocate of Bolero’s solution in the SME market as they continue to promote the tangible benefits brought forth by trade finance digitisation.”

Says Tom James, CEO and CIO of TradeFlow , “ Since our USD Trade Flow Fund’s executed the world’s first floating storage Diesel cargo transaction on the platform in November 2018, utilising Bolero’s electronic Bill of Lading solution, TradeFlow has supported hundreds of SME clients globally, transacting in over 26 types of commodities with over US$500m dollars of trade, with all the benefits of digitisation,  including a lower carbon footprint in effecting these trades. TradeFlow is proud to be one of the forerunners leveraging on Digitalisation for our industry in partnership with Bolero.”

John Collis, CRO of TradeFlow adds, “It’s all about the network effect; it is important for TradeFlow to offer as much connectivity as possible to shippers and counterparts.  SMEs are a sector particularly affected by the COVID-19 crisis. TradeFlow is pleased that we can provide our SME customers more and more access to Digitalised trade solutions that help increase trade and reduce economic hardships brought about by higher-risk systems.”

About Bolero International

Established in 1998 by SWIFT and the global logistics and insurance industry, Bolero International has built a formidable reputation and market leadership position in driving the digitisation of global trade. Bolero delivers secure, end-to-end, cloud-based services across the entire global supply chain by digitising trade processes and transactions.

About TradeFlow

TradeFlow Capital Management (TradeFlow) is the world’s first FinTech-powered commodities trade enabler focused on SMEs. TradeFlow consists of a diverse team of experts with the focused mission of addressing the increasing trade finance gap faced by global SMEs operating as producers/traders/end-users in the bulk commodity trading space. By performing an enabling role in international trade and globalization, TradeFlow creates growth opportunities for businesses and economies. To date, TradeFlow has successfully invested in more than US$500mn of physical commodity trade through 700+ transactions across 15+ countries and 25+ commodity types, with more than 800 SME counterpart entities KYC reviewed.

The TradeFlow Funds*, advised by TradeFlow, were conceived in 2016 and launched in 2018.

Headquartered in the Asian financial hub Singapore, TradeFlow is a FinTech Certified Company (SFA), a Corporate Member of the Singapore FinTech Association (SFA), and a Member of the Alternative Investment Management Association (AIMA).

* No.1 SME-focused trade finance fund in annual net returns to investors in 2020, as reported by Preqin Alternative Investment Database records

www.tradeflow.capital

PRESS RELEASE CONTACTS

Bolero International:

Joanna Elliott  | The Whiteoaks Consultancy

Email: joannae@whiteoaks.co.uk | Tel: +44 (0) 1252 727313

TradeFlow:

Daniel Chua | VP, Communications

Email: daniel.chua@tradeflow.capital | Tel: +65 9177 6348

The post Innovative FinTech TradeFlow boosts their trade finance operations with Bolero’s eBL solution appeared first on Bolero (WiseTech Global Group).