Channel provides funding to cross-border fintech Tint Financial Services
- New funding line provided by Channel powers short-term cross-border finance
- Tint is a new startup making SME cross-border trade easier, quicker and more sustainable
- This is the latest in a series of investments by Channel to support the innovation economy made in 2023
London, UK, 30 August 2023: Channel, an alternative investment fund manager specialising in technology-driven trade finance and B2B lending, today announced that it has provided funding to support lending activity at Tint Financial Services (Tint), a new fintech platform providing cross-border trade finance.
Channel’s investment will enable Tint to finance customer trades supporting cross-border transportation for large quantities of goods and commodities. Channel’s decision to fund Tint’s lending activities was made possible by its data-driven analysis of the company and its customers, combined with the experience of Tint’s founders, Steve Rose and Max Firth.
Tint, which began trading in 2023, aims to fill a gap in the corporate and SME banking market by providing products that make cross-border trade easier, quicker and more sustainable for SMEs and their supply chains. Its platform offers access to fast short-term trade finance, insurance and foreign exchange services, and expert regulatory, compliance and logistics support to ease and minimise the environmental impact of international trading and shipping activities.
Channel is the investment arm of Channel Digital Holdings, which supports the innovation economy in the UK, Europe and North America. Channel has deployed more than $10 billion to businesses since 2014 through alternative lending partners and directly to clients. Channel leverages its extensive use of APIs, open banking and cloud-based technologies to facilitate a fast, fair and efficient experience for its portfolio companies.
Tony Smedley, Director of Sales at Channel, said: “Firms like Tint are an increasingly important part of the SME lending landscape and valuable go-to-market partners for Channel. Tint is an inspiring start-up with a unique proposition, excellent market knowledge, and a strong founding team. We are excited to support its first transactions and look forward to working in partnership with Tint in the years to come.”
Max Firth, COO at Tint Financial Services, commented: “We are excited to be up and running at Tint and thrilled to partner with Channel to provide finance that supports easier and more sustainable cross-border finance. For the kind of short-term financing we provide, a partner that can make fast and fair lending decisions based on all available data is vital. Channel provides that capability and enables us to get the job of lending done.”
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