Stenn International Ltd. Launches $300 Million Platform for International Trade Finance
Summary
The platform will acquire up to 120-day trade receivables from small-to-medium enterprises ("SMEs"), particularly in China and Southeast Asia, who produce and export goods for sale to U.S., European and other global buyers. "Our new $300 million platform will help Stenn achieve a critical goal: becoming the first choice for funding among SME exporters in Asia who wish to serve the global market for consumer goods," said Greg Karpovsky, Executive Chairman. "We were attracted to Stenn by the size of the market for this type of financing, the deep expertise of the management team, the quality of their network of buyers and counterparties, and a scalable origination and servicing platform." Stenn is led by Greg Karpovsky, Walter Colebatch and Andrey Polevoy, an experienced executive management team with a successful track record of building a multi-billion US dollar receivable finance business in emerging markets. The firm was founded by Josh Eaton, Fred Horton and Carlos Mendez, and leverages their collective experience to create unique solutions for the benefit of their investors and counterparties.