Supply@ME Capital considers investment into Italian fintech By Investing.com

By Samuel Indyk

Investing.com – Supply@ME Capital has today provided an update on its funding strategy and progress towards first monetisation of its Italian portfolio, which includes the possibility of direct investment into a fintech bank owned by an Italian banking company.

The UK-listed fintech company said it has entered into an agreement with the unnamed Italian banking company and fintech bank which envisages the signing of a commercial agreement to manage both the origination of new client companies and a multi-annual inventory funding plan.

The agreement also sees the execution of a first inventory monetisation transaction involving a portfolio of Italian companies.

Upon completion of the arrangements, Supply@ME (LON:SYME) will acquire up to 10% of the fintech bank. An additional 10% may be acquired at the option of the company within the following two years which would require central bank authorisation.

The fintech bank was valued by a ‘Big 4’ firm at between EUR 34 million and EUR 50.6 million in April this year.

“We can now begin to structure the monetisation of the first group of Italian client companies,” said Supply@ME Chief Executive Alessandro Zamboni.

“This is a key initiative for Supply@ME and we expect that it will serve as the basis for an ongoing and scalable inventory funding programme for Client companies, starting in Italy.

“We expect the agreement will create additional value for the Company, given the opportunity to invest directly in a Fintech Bank whose portfolio will grow as Supply@ME completes further rounds of monetisation.”

At 10:25BST, shares in Supply@ME were trading higher by 4.2% at 0.3739 pence per share.