Marketlend, a Sidney, Australia-based marketplace trade credit platform, recently closed a new $100 million financing facility with Crayhill Capital Management LP, a New York based private credit manager and asset-based lender.
The Crayhill financing facility supports Marketlend’s international insured trade receivables lending business throughout Asia, the Middle East and Oceana. It complements the company’s existing trade credit securitization program, which offers financing to companies engaged in international trade.
Founded in 2014 by Leo Tyndall, Marketlend offers working capital solutions to SMEs and provides flexible financing solutions for buyers and sellers in global supply chains. Its latest product UnLock, a Buy Now Pay Later B2B solution, is a payment gateway that enables SMEs to boost their purchasing power with suppliers and have extended supplier terms of up to 30, 60 or 90 days.
The company has been valued at AUD $175m dollars earlier this year and subsequently raised AUD $8.5m dollars in equity to expand brand awareness and marketing.