Incomlend opens new office in Dubai – News

Loic Hennock. – Photos provided

One of the firm’s major clients includes a metals trading company that received a revolving working capital solution to finance invoice financing for facilities totaling $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 increase its reach and offer invoice financing solutions to small and medium enterprises (SMEs) globally.

Morgan Terigi, Co-Founder and CEO of Incomlend, said: “As a regional financial center and leader in fintech, we see a huge opportunity for Incomlend to grow our business in the UAE and the Middle East. We will be closer to India, Bangladesh and Turkey A market rich in trade activities such as. With the opening of our office in Dubai, we can now better support more SMEs in the region. We continue to fulfill our mission to provide more high-quality SMEs with competitive and alternative working capital solutions and support their growth.”

One of the company’s key clients in the region includes a metal trading company that handles metals sourced from around the world, including Hong Kong, Japan, Bahrain, Saudi Arabia, the UK and the US. The company sells processed metals to companies in the UAE. Incomlend provided them with a fast-turnaround working capital solution for invoice financing of the facility totaling $4 million. Cash flow enables companies to seek new business streams and grow their businesses.

Recognizing the enormous market potential and unmet financing needs in the Middle East through these transactions, Incomlend has appointed Loic Hennocq, formerly Incomlend’s Head of Operations, as General Manager of its Dubai office. With over 20 years of experience in the trade finance industry, he will lead and expand the company’s footprint in the region, with a focus on attracting more SMEs that are underserved by traditional financial institutions.

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

— business@khaleejtimes.com