Credit-led challenger, Zvilo a term sheet has been signed by, for a new loan Facility of up to €50m with a leading London–Based alternative asset management company.
Zvilo is transforming business lending in the Balkans by providing short-term working capital facilities to SMEs across different value chains. Further automation will allow for the supplier finance program to be implemented. Zvilo’s proprietary platform, combining scale and accessibility from the outset.
The new Facility will enable Zvilo to transform the region’s traditional banking sector and revolutionize how SMEs access working capital.
Admir Imami, Chairman Zvilo, commented: “We are beyond delighted to have secured terms for the new Facility. Zvilo is working on the proposition that supplier financing is a well-penetrated product in Western Europe but not in the Balkans, where the opportunity is enormous. We aim to offer bridge capital to those businesses seeking to finance trade flows originating in and from the Balkans.”
“The €50m Facility will enable us to turbocharge our business lending in Kosovo, followed by the rest of the region, providing innovative working capital solutions to SMEs. This is crucial in a post-Covid environment, when SMEs want to restore trading levels to pre-Covid days. Our seamless and sustainable funding solutions will help these SMEs with the required liquidity, so they reach their pre-Covid trading levels while also taking advantage of our digital financial product offering,” concluded Mr Imami.
Shahem Samian, Chief Operating Officer (COO), and Chief Financial Officers (CFO) Zvilo commented: “This announcement is a huge vote of confidence to Zvilo’s business model. After the recent success of securing our lending license (factoring licence) from the Central Bank of Kosovo we have launched our supplier finance program. Now, we are in the exciting final stages of optimizing the innovative Supply Chain Finance platform with artificial intelligence. This platform will prove to be an invaluable tool. Zvilo to scale its SME supplier onboarding and funding across the Balkans and assist with our ESG reporting.”
“Securing the terms to such Facility is a huge endorsement of Zvilo’s management and the willingness of the international investor community to back such a team and invest in a market such as the Balkans,” concluded Mr. Samain.