Incomlend Supports China-Based Mobile Phone Manufacturer with Invoice Financing Solution

Access to quick turnaround working capital enables manufacturer to capture new revenue opportunities in the high-demand global mobile and communication products market

Global invoice financing marketplace, Incomlend, today announced a quick turnaround financing solution for mobile and intelligent communication products manufacturer based in China for their sales to one of their key buyers. Among the manufacturer’s list of clienteles are local-brand mobile phone sellers in India, Bangladesh, Pakistan, the USA, and South Africa, as well as large eCommerce platforms such as Alibaba which buy Internet of Things (IOT) products from them. The manufacturer exports parts for feature phones and smartphones to this key buyer, an international mobile phone brand based in Hong Kong with manufacturing and assembly plant in India. The buyer procures the components from China, Hong Kong, Taiwan, Vietnam, and India and sells the finished products locally and globally. Its customer base includes 1,000 distributors and 150,000 retailers as a global single-layer distribution system.

Traditionally, the supplier and buyer worked on Letters of Credit (L/C) with terms of 90 days. Thanks to Incomlend’s quick turnaround financing solution, they were able to switch to less onerous and more cost-efficient payment term of Open Account with 120 days from the invoice date. This allows the trading partners to buy and sell more from each other more efficiently while accessing cash flow to finance their operations. Thereby, the buyer adds to their competitive in the fast-paced mobile communications market and strengthens their trading relations with the supplier at the same time.

According to Statista, global smartphone sales are valued at USD409 billion, with China alone accounting for USD152.3 billion. The study also shows that 1.29 billion units are shipped globally every year, with 78 per cent of active users across the globe.

Founded in Singapore and with offices in Europe, India, the UAE and Southeast Asia, Incomlend connects small and medium enterprises (SMEs) globally with communities of investors. It enables investors to buy and sell individual invoices via a proprietary tech-enabled and secure invoice exchange platform. At the same time, Incomlend’s global invoice financing marketplace provides worthy SMEs with the working capital they need to pursue new revenue streams.

Incomlend CEO and Co-founder Morgan Terigi commented:

“The mobile communications market is extremely competitive, and the demand for smartphones continues to grow. We see the growing appetite amongst SMEs globally for alternative financing instruments from companies looking to export parts to their partners and deliver mobile phones and accessories faster. Incomlend can help manufacturers, suppliers, and buyers stay ahead of the competition within the booming mobile phones market with tailored and alternative non-recourse working capital solutions.”

For more information on Incomlend, please visit https://incomlend.com/

About Incomlend

Incomlend is a global invoice financing marketplace for businesses and private capital. Founded in 2016, the Singapore-based company has processed more than 6,000 transactions and provides invoice finance services in over 50 countries worldwide. As one of the first alternative cross-border trade finance platforms globally, Incomlend enables companies to finance their export invoices by selling them to institutional investors at a discount. For more information, visit https://incomlend.com/ 

Image by David Mark from Pixabay

About Editor 2507 Articles
Lisa Baker is the Editor of International Business News. As the Owner of Need to See IT Publishing, Lisa is an experienced business and technology journalist and publisher.