Bolero International partners with NR Capital to open up SME commodity trade finance

NR Capital, the Singapore-based alternative commodity trade finance solution provider, is partnering with Bolero International, the trade finance digitisation expert, to facilitate crucial investment support to companies in the bulk physical commodity markets around the world.

Bolero’s Multi-Bank Trade Finance solution will enable NR Capital to provide SME firms around the world with access to essential transaction support, via its ability to invest in and interpose in Physical Commodity asset backed transactions, with unrivalled scalability and security to its investor base and trading counterparts.

NR Capital can utilise Bolero as its core registry of title and ownership via electronic bills of lading (eBL) management, and apply for Letters of Credit (LCs) from the wide range of banks already on board the Bolero platform. NR Capital can also benefit from the immense gains in time and efficiency that flow from the use of electronic trade documents.

Tom James CEO, NR Capital, said: “We are very excited to be partnering with Bolero, using the Multi-Bank Trade Finance solution and electronic document presentation to ensure both our investors, and the counterparties whose transactions we invest in, benefit from lower costs, faster processing of transactions and tighter security than traditional paper-based documentation. We feel our solutions come at just the right time as regulation and costs make mainstream bank commodity trade & inventory financing increasingly difficult to obtain for SMEs.”

Matt Cape COO of NR Capital added: “Our focus is to digitise the documentation flow in the complete supply chain in order to deliver unrivalled services and scalability. For our SME counterparts and our investors, we are very pleased to bring them the greater efficiency, transparency, accuracy and security that digitised transactions can provide.”

“We are delighted to be working with an organisation like NR Capital that is using innovation to provide services that conventional banks find difficult, given the cost-pressures of enhanced regulation,” said Ross Wilkinson, Head of Global Accounts for Bolero. “By partnering with Bolero, NR Capital gives its customers unrivalled access to multiple banks, whilst removing the delays, mistakes and vulnerability to fraud of paper-based processes.” “NR Capital customers will enjoy shorter transaction times and seamless connectivity with supply chain partners. This is a relationship that is a natural fit for Bolero.”