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From Global Trade Review (GTR) | By Finbarr Bermingham
Trade finance marketplace LiquidX has opened a Singapore office, as well as expanded its presence in New York.
Rohit Goyal has been named managing director in Singapore, after joining from trade finance fund EFA Group in April. Goyal was the deputy head of the SME finance fund at EFA Group, which is among Asia’s most prominent players in that space.
He has previously worked across the fintech, private equity and asset management sectors in Singapore.
LiquidX is one of a clutter of relatively new platforms making waves in the invoice financing and account receivables space. The company is now operational in 25 jurisdictions and has expanded beyond US dollar transactions, having denominated its first trade in pound sterling earlier this year.
It handled US$1.8bn in transactions in the second-quarter of this year, a 64% increase on the previous year. Since its inception in January 2016, it has processed US$13bn in trade volume.
In New York, the company has also established a new desk focusing exclusively on Latin American transactions, catering for demand there.
“We’re rapidly ramping up to better serve our clients, no matter where they are located. It is a tremendous opportunity for us but we are also excited to be able to provide the global infrastructure our clients demand,” says global head of sales, Glenn Kocher.
Goyal adds: “We’re seeing strong interest in our marketplace in Asia, and we’re very pleased to be open for business here in Singapore.”