Calibrate Management Investments to Crossflow Payments
- 01.02.2017 09:00 am
Crossflow Payments (Crossflow), the technology driven alternative finance platform delivering innovative supply chain finance solutions, has today announced a significant investment from Calibrate Management (Calibrate), a leading investor focused on early stage, high growth firms.
The deal sees Calibrate take a minority equity stake in Crossflow and will provide further firepower as the business continues to execute against its ambitious growth strategy.
The investment comes at the start of what is set to be a landmark year for the business as it continues to scale its attractive supply chain finance proposition, helping businesses optimize their working capital and strengthen their supply chain while allowing SME suppliers to instantly access outstanding invoices.
As part of the transaction, Calibrate Management’s John White and Remy Kesrouani will join the team as ongoing strategic investment advisers to the business. With a wealth of experience and networks, they will provide guidance and strategic counsel to Crossflow’s board of directors.
John White founded Calibrate in 2015, after twenty years at GLG Partners, the investment fund manager, latterly running two of the most successful funds. With a renowned investment track record and a passion for growing businesses in the financial sector, he set-up Calibrate with the view that having a longer timeline for investing will generate superior returns.
With a background in investment banking, Remy Kesrouani will help Crossflow ensure the highest standards of due diligence, building on its commitment to combine deep credit expertise with technological innovation and adhering to the industry standards it helped create as a founding member of the International Association of Alternative Finance.
Tony Duggan, Chief Executive of Crossflow Payments said: “I am delighted to welcome Calibrate onboard as a key shareholder in our business. This investment comes at an important time for us not only in providing additional firepower to help support further scaling of the business, but also in providing us access to two of the most respected investors in the City.
“The team at Calibrate has a track record that is second to none and their passion is unrivalled. I look forward to working closely with John and Remy as we continue to drive origination and take advantage of the significant market opportunities our innovative solution presents.”
John White, Partner and founder at Calibrate Management said: “The supply chain finance market presents a significant opportunity for new entrants who are able to offer an alternative proposition, combining deep credit expertise with technological innovation. That is exactly what Crossflow Payments is able to do with a highly scalable and exciting business model.”
The need to access working capital is regularly cited as top priority by both large corporates and SMEs alike. Traditionally dominated by banks, the supply chain finance market is expected to grow by around 15% in the coming years in terms of revenue and presents a significant opportunity for Fintech entrants who can leverage new technology to transform the supply chain.*