HONG KONG – Transigo, a Haifa, Israel, Richmond, Virginia, and Hong Kong-based provider of SaaS software that enables cross-border B2B marketplaces to provide point-of-sale financing to its buyers, secured up to $70m funding facility.
The backers were two publicly listed companies in Israel: E.N. Shoham Business Ltd (SHOM:IT) and Nawi Brothers Group Ltd (NAWI:IT).With a business potential for increasing funding, the facility will allow the company to expand its point-of-sale SaaS platform to major B2B marketplaces in Asia in the first quarter of 2022.Led by Nir Tal, CEO, Transigo provides a point-of-sale SaaS platform that integrates with the marketplaces’ platforms via a secure API and enables the marketplace to offer approved buyers up to $80,000 in point-of-sale credit with a maximum term of 90 days. Approvals can be completed within minutes. To assess prospective buyers and minimize risk, the company uses an AI deep learning-based scoring algorithm that has been tested and shown to be able to provide highly accurate estimates of a buyer’s future financial performance. Transigo also further caps its downside risk by using an innovative structure with high credit insurance coverage and direct pulls from the borrowers’ bank accounts for settlement payments.The company counts among its investors entrepreneurs which have co-founded startups that have gone public and reached multi-billion-dollar valuations.02/01/2021
