• Fintech firm running platform that allows companies to transfer unsold stock to other firms
  • Already has more than 300mln euros worth of contracts with cross-border companies
  • Listed on the main market of the London Stock Exchange in March following reverse takeover by Abal Group

What Supply@ME Capital does:

Supply@ME Capital PLC (LON:SYME) is a fintech firm which runs a platform that allows companies to transfer unsold stock to other firms established by Supply@ME which can then be sold off to end customers.

The cross-border ‘fintech hub’ has three active business lines: Regulatory Technology (RegTech); Insurtech; and asset-based fintech.

The group’s innovative platform puts together funders, through a securitisation scheme. The structure works with several domestic special purpose vehicles that are the commercial counterparties of the manufacturing and trading companies.

Behind the service, several exponential technologies are managed with the aim of making Supply@ME the best fintech inventory data monitoring system.

Supply@ME has already clinched more than 300mln euros worth of contracts with companies and signed agreements with cross-border financial partners.

How is it doing:

Formerly a subsidiary company of the AvantGarde Group S.p.A., Supply@ME was acquired by Abal Group PLC through a reverse takeover deal earlier this year for £227.5mln.

Abal, which was formerly an AIM-listed cash shell, listed on the main market of the London Stock Exchange on March 23 following the acquisition and plans to change its name to Supply@ME Capital PLC, however, that has been delayed by Companies’ House due to the coronavirus pandemic.

On April 17, the company said it had been notified that “significant delays are currently being experienced in the processing of name change applications” and that the registrar “may not be able to process documents as quickly as has been done previously”.

At the time of the listing announcement, Abal said the acquisition presented “an attractive opportunity” and that an enlarged group will be able to “enhance Supply@ME’s competitive position and market share across multiple territories”.

The company raised £42.18mln through a share placing and a vendor placing with institutional and other investors ahead of the listing. The former, of around 331.6mln new shares at a price of 0.6756p each, raised £2.24mln, while the latter saw 5.9mln proposed consideration shares for the deal conditionally placed totalling £39.9mln.

The company said the £2.24mln from the share placing will be used to finance the development of Supply@ME and for working capital.

On April 20, Supply@ME revealed that it has signed an agreement with financial advisory firm StormHarbour Securities for the issue, distribution and placing of a series of asset-backed securities guaranteed against inventories purchased directly by the company’s special purpose vehicles.

The inventory monetisation firm said it was currently finalising the details of a securitisation programme which, within the next 12 months, is expected to cover the whole of its current portfolio of originated inventory contracts.

Supply@ME said it would make a further announcement on this following completion of its recent placing and initial issuance following the reverse takeover, including the amount raised and the sub-portfolio of inventories that the platform will commence monetising in favour of its clients.

What the boss says:

Announcing the securitisation deal, Supply@ME chief executive, Alessandro Zamboni said: “The commencement of this programme is an important milestone in the Company’s development, confirming the importance of our Platform’s offering in supporting the working capital needs of companies and helping to monetise their inventory days, especially in light of the current, unprecedented global economic challenges, and the countless number of businesses impacted by the coronavirus.”