Vayana TradeXchange and Air8 announce strategic partnership to empower over 1 lakh MSMEs in Cross-Border Trade

2025-01-09 09:40:35 Business

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28th August, National : Vayana TradeXchange (VTX), the leading International Trade Finance Service (ITFS) platform, announced a partnership with Air8, an insight-driven global supply chain financier, to transform cross-border trade finance between India and the rest of the world. This collaboration is intended towards making trade finance accessible for Small and Medium Enterprises (SMEs) and Micro, Small, and Medium Enterprises (MSMEs) exporters across India.

Through this partnership, Air8 is poised to leverage Vayana TradeXchange\'s extensive network of MSME suppliers, buyers, and financiers in India to connect them with its global ecosystem. This initiative will enhance the accessibility and affordability of trade financing for Indian exporters. It will bolster their cross-border trade activities, in line with the government\'s objective to establish India as a pivotal manufacturing and export hub within the global supply chains.

Access to formal finance remains a significant challenge for many MSME exporters in India. These businesses often struggle with obtaining timely and affordable trade financing, hindering their growth opportunities and competitiveness. The strategic partnership is designed to enable exporters to manage the complexities of cross-border trade and reduce risks linked to international buyers.

VTX, a platform based in GIFT City, operates under the regulatory oversight of the International Financial Services Centre Authority (IFSCA). It has become the preferred ITFS platform for connecting exporters and importers, providing access to cross-border trade finance products. The platform facilitates transparent interactions between financiers, exporters, and importers, promoting inclusivity and accessibility in trade finance.

\"We are excited to partner with Air8 to further our mission of democratizing trade finance and making it available to the smallest of businesses from the largest of lenders,\" said Kalyan Basu, MD & CEO, Vayana TradeXchange. This collaboration will enable us to leverage Air8\'s global reach and expertise to empower MSMEs in India and drive their growth and competitiveness in cross-border trade.\"

Established in 2021, Air8 is a technology-based supply chain platform that stands out in the fintech industry with its seamless easy onboarding process and profound insights into sectors such as fashion and general merchandize. Since its inception, Air8 has achieved over US $1 billion in annual GMV and has provided financing to suppliers across multiple countries globally. By integrating with VTX\'s platform, Air8 will further enhance accessibility to finance for SMEs and MSMEs, thereby facilitating sustained growth and resilience in the sector.

About Vayana TradeXchange (VTX)

Vayana TradeXchange (VTX) is a leading International Trade Finance Services (ITFS) platform that operates under the ITFS guidelines of the International Financial Services Centres Authority (IFSCA), GIFT City, India\'s first global financial centre. As a wholly owned subsidiary of Vayana, India\'s largest supply chain finance fintech, VTX provides an auction-based marketplace connecting exporters and importers, enabling access to cross-border trade finance products. VTX\'s solutions help businesses effectively manage trade receivables and payables, enhancing cash flow management for businesses on a global scale. The platform has successfully onboarded prominent financial institutions such as the State Bank of India, India Factoring, VoloFin, and Drip Capital as financiers. Additionally, VTX is actively engaged in expanding its financier network and aims to onboard an additional 15 financiers by the end of FY 2024.

About Air8

Air8, a digital venture of LFX Digital (an affiliate of global supply chain manager Li & Fung), is an award-winning supply chain finance platform that focuses on supporting small and medium-sized enterprises (SMEs). With a heritage of industry experience spanning over a century， Air8 has a deep understanding of the fashion and general merchandise sectors. Air8\'s vision is to empower SME exporters in emerging economies by offering accessible financing and industry-specific insights to drive sustainable growth. The Air8 team collaborates closely with suppliers, buyers, and funders within its extensive global network. Since its establishment in 2021, Air8 has provided financing to hundreds of suppliers around the globe, with an annual GMV exceeding US$1 billion.