February 8, 2016 in FinTech, News from Our Companies

TradeRocket inks deal with Hitachi Capital America

Post placeholder image

TradeRocketTradeRocket, a next generation FinTech company, said it entered into an agreement with Hitachi Capital America to provide up to $100 million in working capital to the mid-market through an innovative supply chain financing program.

Launching in February, 2016, the funding under this agreement will come from Hitachi Capital America’s trade finance division, which plans to fund more than $2 billion in its fiscal year ending March 31, 2016.

TradeRocket is a startup company of the Advanced Technology Development Center (ATDC) at Georgia Tech. It is part of the ATDC Accelerate program.

TradeRocket’s enterprise-based global supply chain financing platform allows:

  • Buyers to obtain up to $5 million of funding to support their supply chains
  • Suppliers the option to be paid early
  • Funders access to a recurring flow of short-term, low risk, high return investment opportunities

“TradeRocket has identified a market that Hitachi Capital America can help by improving the liquidity, balance sheets and trading relationships of companies within that sector,” said Tom Cross of Hitachi Capital America. “Its solution, backed by our capital, will help to accelerate growth with participating companies, and will have a ripple effect of providing additional critical capital to their suppliers.”

TradeRocket will provide Hitachi Capital with a pool of mid-market buyers: companies with annual revenues of $25 million to $500 million. Once underwritten, a buyer will be able to provide an Early Pay invoice option to its entire supplier network.

“TradeRocket’s platform will provide Hitachi Capital with direct access to a network of mid-market buyers, and their associated suppliers,” said Jim Eckstein, TradeRocket’s CEO. “With their financial strength our market knowledge, and data driven marketing, we anticipate significant growth in the coming 24 months.”




By browsing this website, you agree to our privacy policy.
I Agree