Ngulminthang Lhanghal - Financial Expert

NEW YORK, March 22, 2022 /PRNewswire/ -- Fishtail announced today it has raised $4.5m in seed funding, led by Thursday Ventures, with participation from leading data, fintech, and supply chain investors Rackhouse Ventures, Amara Ventures, and project44 CEO Jett McCandless and Chief Growth Officer, Jason Duboe. "Trade finance has been an underinvested asset class for far too long," says Fishtail CEO, Marc Held. "Fishtail's novel trade technology unlocks top-line growth opportunities for both suppliers and freight forwarders." Complexity behind global supply chains has made it incredibly challenging for financial institutions to fund purchase orders and invoices, internationally, for SMBs on a meaningful scale. Unsurprisingly, this is a major driver behind the 1.7 trillion USD per year trade finance gap, which is being increasingly widened by the COVID-19 pandemic and the supply chain disruptions caused by it. Today, Fishtail's data-driven, scalable solution a...

The European Bank for Reconstruction and Development (EBRD) has unveiled fresh trade finance support for businesses affected by Russia’s invasion of Ukraine, both in the war-ravaged country and neighbouring nations. As the conflict approaches its fourth week, the EBRD has announced a €2bn resilience package and says various forms of financial aid will be made “rapidly available” to Ukrainian businesses. These include payment deferrals, emergency liquidity finance, trade finance, and potentially even help for companies looking to relocate. An EBRD spokesperson tells GTR there is no specific amount earmarked for trade finance purposes, but the lender will weigh up demand from partner banks and the “obviously the level of risk of each proposed transaction”. They add the new trade finance lines will boost imports of fuel, medicine and other important goods, with financing disbursed through Ukrainian commercial banks who will on-lend to their clients. The move follows a proposal by the EBRD...

Importers from London to Warsaw will soon face higher shipping costs, longer delays and an obstacle course of sanctions to navigate as Russia’s widening assault on Ukraine complicates the movement of cargo between Europe and Asia. President Vladimir Putin’s invasion, and retaliatory steps designed to paralyze the Russian economy, are heaping new disruptions on supply chains that never recovered from unprecedented shocks caused by the pandemic. Beyond the devastating human toll, the war threatens higher costs for fuel, grain, industrial metals, and other raw materials used in Asian-made consumer goods headed for Europe and beyond. Mediterranean Shipping Co. and A.P. Moller-Maersk A/S, the world’s biggest container carriers, on Tuesday halted bookings for Russian freight, with Maersk seeing “ripple effects” and “significant delays” across the region. Not a good signal for European economies already facing energy spikes, product shortages, clogged ports and the highest inflation since the...