Tradewind Provides Export Factoring Facilities to Pair of Icelandic Seafood Companies
Tradewind has funded a pair of independent seafood companies based in Iceland that sell bacalao to Spain and fresh fish to Germany, the US and Canada. The trade finance firm provided one of the companies with export factoring facilities in the amount of €1.7 million and $500,000, and the other with export factoring facilities in the amount of €700,000 and $500,000. With the funding in place, the seafood companies will be well-positioned to capitalize on growth opportunities both now and in the future.
As businesses that have both short- and long-term goals to expand and enter new markets, Tradewind’s scalable financing was the right fit for their cash flow needs, enabling them to continue receiving funding as their sales grew. Tradewind has not only worked with a portfolio of seafood companies in Iceland, but it has also financed seafood exporters, processors, traders, wholesalers and distributors in the US, China, Turkey and Peru, to name a few countries, making it an experienced financial partner across continents for SMEs in the industry. Having been in the seafood business for more than two decades servicing various markets, the twin companies, known for their quality seafood and service-mindedness, sought an international financing partner like Tradewind to assist them in building their own global footprint.
“With a strategic office location in Reykjavík, Iceland, Tradewind was pleased to lend its local know-how, international capabilities, and vast knowledge of the seafood industry to clients like these who have already established themselves in the industry but would like to take their business to the next level. We were happy to help them at this stage of their growth with a unique deal arrangement that met each company’s needs, structuring facilities for them in both USD and EUR and positioning them for expansion into new territories,” states Sveinn Reynisson, Country Manager of Tradewind Iceland.
Tradewind (formerly DS-Concept) maintains a network of offices all over the world, including Bangladesh, Bulgaria, China, Hong Kong, Hungary, Iceland, India, Pakistan, Peru, Turkey, UAE, and USA as well as the headquarters in Germany. Combining financing, credit protection, and collections into a single suite of trade finance products, Tradewind brings streamlined, flexible and best-in-class services to the world's exporters and importers.