January 25 Global fintech firm MODIFI has acquired Seawise Capital’s trade finance and SaaS business in India. “The transaction relates to the future business of the Seawise portfolio,” the two companies said in a statement on Tuesday.

MODIFI is the only digital trade finance platform that provides SMEs with digital solutions to finance and manage their trades, protect them from counterparty risk, and easily track their shipments.

‘Ensuring smooth transition’

“Over the past 18 months our business here has grown more than 2,100 per cent, making India our largest single market. Our strong presence in the region and an experienced local team will ensure a smooth transition and excellent customer service,” said Nelson Holzner, CEO and Co-founder, MODIFI.

Kunal Rajvanshi, CEO and Co-founder, Seawise, said, “This is an exciting next step for us as we join forces with MODIFI. This deal will capitalise on everything we have built so far, giving our customers access to more liquidity and improving the way they participate in global trade.”