IBSFintech, a fintech start-up, has bagged an order from Swiss trading company IMR Metallurgical Resources to manage its Treasury operations.
The Bengaluru-based company offers trade finance products for corporates to manage foreign currency risks, commodity trading risks and optimise returns on investments. It also manages letter of credit, and bank guarantees for importers and exporters.
To further fuel the growth, the company is expanding operations in Europe, APAC, MENA, and US region, with plans to have local presence across the globe by 2020. With its first international deal, the company is setting its footprint in the global market during this financial year and expects to generate revenues of at least $1 million.
IBSFintech manages around $20 billion in Treasury operations. According to McKinsey, the market potential of Corporate Treasury, B2B payments and cash flows is $135 trillion globally.
"Organisations across the globe are increasingly looking for an accurate measurement of risk and incorporating automation as an inherent process in Treasury management," said MD & CEO, C M Grover, IBSFintech.
The start-up counts HCL Corp, JSW Steel, Maruti Suzuki, Mahindra & Mahindra, HimatsingkaSeide Ltd, and Future Group as some of its clients.