4Trans, a fintech specialising in financial products for supply chain and logistics companies, has partnered with Allianz Trade to offer SMEs in the EU access to secure funding solutions and protection against potential revenue loss.
Through the partnership, 4Trans will be able to provide EU SMEs with the necessary funding to support their cash flow needs while also ensuring they are protected against poor debts. SMEs can now access superior credit insurance, which is often required, while also being protected against non-payment risks.
The partnership together with 4Trans’ factoring products, equips businesses in the EU with everything they need to gain access to funding for growth and protection against cash flow challenges. 4Trans’ factoring products enable SMEs to access outstanding cash flow from unpaid invoices, enabling them to use their own funds to improve their daily operations or invest in growth plans.
The partnership will also enable 4Trans to offer stronger insurance products to its clients through brokers from Allianz Trade.
To date, 4Trans has financed 90,000 invoices with a total of over €75 million for supply chain and logistics SMEs, marking a 350% year-on-year growth.
4Trans has also appointed Martin Chvoj as Chief Risk Officer tasked with assessing and mitigating significant competitive, regulatory and technological threats for the fintech company. Martin has extensive international experience in risk management and operated in highly regulated countries in Central Europe and the USA as well as global emerging markets such as China, Philippines, India, Indonesia and Vietnam.
He held senior management roles in the Asian branches of Home Credit Group, a leading consumer finance company and various roles at the big four consulting companies. Martin successfully completed his doctoral studies in finance and actuarial mathematics at Charles University in Prague.
Jaroslav Ton, CEO, 4Trans, said: “Our new insurance partnership with Allianz Trade, along with the arrival of Martin Chvoj, will bring new opportunities and further growth to 4Trans.
“We are one of the few, if not only, European non-banking companies that have insurance over its portfolio. Thanks to our risk processes, which are now strengthened with our new partnerships and Martin’s arrival, our customers can be assured that their financing is protected and insured. Especially in today’s times, it is important to manage risk to help your company grow safely.
“Martin’s rich experience and expertise will allow us to better understand our clients’ needs and provide them with top-class financial solutions in the logistics sector.”
Martin Chvoj, CRO, 4Trans added: “I am delighted to be able to contribute to the growth of 4Trans while ensuring that our plans will go hand-in-hand with sound management of credit, fraud and operational risks. I believe that my past experience and quantitative approach to risk-related challenges will help 4Trans to achieve all its goals”.
4Trans provides financing to SMEs and other operators in logistics. A lack of working capital, 90-day invoice maturities and often expensive or unattainable bank financing is something most of the 500,000 logistics companies in Europe struggle with. 4Trans solves this by factoring – immediate payment of issued invoices, verification of payment behaviour of debtors, as well as a comprehensive financial offering for SMEs in logistics.
Through a thorough understanding of financing, 4Trans provides a real-time data-based ecosystem of financial services. With a total volume of financed invoices worth over €75 million, 4Trans aims to become the leader in SME financing in Europe.