, the fintech platform, confirmed on Tuesday that it has completed the acquisition of TradeFlow Capital Management.){kind=link}
Supply@ME has restructured its board as the company enters “the next phase of its scalable growth”
Supply@ME (LON:SYME), the fintech platform which provides the ‘Inventory Monetisation’ service to manufacturing and trading companies, confirmed on Tuesday that it has completed the acquisition of TradeFlow Capital Management.
Supply@ME bought the company for £4m in cash and 813m of its shares.
TradeFlow has been valued at approximately £31 million by an independent valuation company.
“The acquisition will establish Supply@ME as the market leader in inventory monetisation and will generate a number of highly attractive synergy benefits for the company in terms of funding and customer origination,” said Supply@Me chief executive Alessandro Zamboni.
“By joining together, we now have an enhanced platform with an offering for the supply chain sector which is unparalleled.”
“We are also assembling an exceptionally strong board with the depth and breadth of experience necessary to maintain our momentum and we will continue to strengthen this team as opportunities present.”
Having completed the deal, Supply@ME has restructured its board as the company enters “the next phase of its scalable growth”.
The firm confirmed it has appointed two new Executive Directors, Tom James and John Collis, who will reman in charge of TradeFlow.
The Supply@ME share price is up 2.64% in early trading on Tuesday.