Incomlend opens new office in Dubai – News

Loic Hennock. — photos provided

One of the firm’s major clients includes a metals trading company, which received a working capital solution to finance invoices with a total financing value of $4 million.

Incomlend, the global invoice financing marketplace, has opened a new office in Dubai, marking the next step in the company’s global expansion plans to expand its reach and provide invoice financing solutions to small and medium enterprises (SMEs) worldwide.

Morgan Terigi, co-founder and CEO of Incomlend said: “As a regional financial centre and a leader in fintech, we see tremendous opportunity for Incomlend to grow its business in the UAE and the Middle East. We will be closer to where trade activity abounds Markets such as India, Bangladesh and Turkey. With the opening of our office in Dubai, we are now keeping a close eye on the ground to better support more SMEs in the region. We continue to strive to provide more quality SMEs Competitive and alternative working capital solutions and support their growth.”

One of the company’s key customers in the region includes a metals trading company that handles metals purchased worldwide, including Hong Kong, Japan, Bahrain, Saudi Arabia, the United Kingdom and the United States. The company sells processed metals to companies in the UAE. Incomlend provided it with a fast turnaround working capital solution to finance invoices with a total financing of $4 million. Cash flow enables the company to pursue new business streams and grow the business.

Recognizing the huge market potential and unmet financing needs in the Middle East through these transactions, Incomlend has appointed former Incomlend Head of Operations Loic Hennocq as General Manager of its Dubai office. With more than 20 years of experience in the trade finance industry, he will lead and expand the firm’s footprint in the region and work to attract more SMEs that are underserved by traditional financial institutions.

Hennocq said: “Incomlend is a company with proven experience in the UAE. Given the global trading environment, expansion into the Middle East is a natural move and has always been part of our global growth strategy. I am delighted to lead the team in and look forward to working through our technology-enabled working capital solutions to develop Incomlend into a trusted and reliable fintech partner for more SMEs.”

— business@khaleejtimes.com