STAMFORD, Conn., Aug. 21, 2019 (GLOBE NEWSWIRE) -- Finacity Corporation (“Finacity”), a member of the Greensill family of companies, has successfully launched a multi-jurisdiction trade receivables factoring program for ZIM Integrated Shipping Services Limited (“ZIM”), a company headquartered in Israel, allowing up to USD 90 million in funding from a leading Israeli bank.
Finacity provided origination, analytic and structuring support, and serves as the ongoing Program Administrator.
The new program is the latest deal struck since Finacity joined Greensill in June of 2019, adding Finacity’s world leading receivables securitization capabilities to Greensill’s market leading financing capabilities for all aspects of working capital finance.
About ZIM
ZIM Integrated Shipping Services Limited is one of the world’s leading container shipping carriers. ZIM, established in 1945 and headquartered in Israel, operates a fleet of approximately 80 vessels and calls on more than 180 ports across the world on a weekly basis. ZIM is owned by Kenon Ltd (32%) and other financial institutions and ship owners (68%). For more information, please visit www.zim.com.
About Finacity
Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual volume of receivables of approximately US $100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in 175 countries. For further information, please visit www.finacity.com.
Finacity is part of the Greensill family of companies.
About Greensill
Greensill is the leading non-bank provider of working capital finance for companies globally. Founded in 2011, Greensill provides businesses with alternative sources of funding, allowing them to provide suppliers with the opportunity for faster payment, while at the same time preserving their own capital position. The company is headquartered in London with offices in New York, Frankfurt, Chicago, Miami, Singapore, Sao Paulo, Mexico City, Johannesburg, Sydney, Warrington and Bundaberg. Greensill provides Working Capital Finance facilities to customers across Europe, North America, Latin America, Africa, and Asia. The company owns Greensill Bank, which was founded in Bremen, Germany in 1927, has a suite of proprietary Supply Chain Finance Funds run by world leading fund management organisations, acquired Finacity in June 2019, and works with more than 100 institutional investors that together provide stable funding. Greensill has extended more than $60 billion of financing to more than 8 million customers across over 165 countries since inception. For further information, please visit greensill.com.
Contact:
Charles Nahum
CNahum@finacity.com