Stan Chart invests in supply chain finance platform
Written by Hannah McGrath
Standard Chartered has made a strategic investment into Chinese supply chain financing platform Linklogis.
The purchase of an equity stake for an undisclosed amount is aimed at helping it join the supply chain ecosystem proposition and provide suppliers with access to affordable financing.
The move also builds on a memorandum of understanding signed with Linklogis in February 2019, which committed to joint development of a supply chain finance proposition and a series of supply chain financing transactions.
Under the terms of the investment, Standard Chartered will continue to leverage Linklogis’ technology and expertise to provide large corporate buyers with greater visibility and transparency of their extensive network of suppliers, as well as financing for suppliers further upstream.
Benjamin Hung, regional chief executive for Greater China and North Asia at Standard Chartered, said: “Corporate clients globally are increasingly looking for efficient and secure digital platforms to meet their supply chain financing needs.
“Our strategic investment into Linklogis not only allows us to better serve our clients by being a part of their integrated ecosystem, it also reinforces our efforts to support China’s opening by facilitating the flow of capital, particularly for the Greater Bay Area.”