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Fintech HandEX revolutionizing inefficient export finance market

Fully integrated credit and insurance platform for small-ticket financing, including “Euler Hermes Cover”, which is awarded on behalf of the German Federal Government. Round led by High-Tech Gründerfonds (HTGF), i.a. together with the business angels Andrew Shaw (Coya) and Ingo Saleck (start-up investor)

Seed financing serves the expansion of the team and the full development of the target customer segment of German mechanical engineering by the end of the year.

A true revolution in the market of new technologies

HandEX is revolutionizing the market by using leading technologies for the modernization of credit and insurance processes. So, HandEX wants it both exporters and making imports as easy as possible, financing for their to obtain international trade. Become today export credit inquiries from German exporters often from their banks rejected, in particular for financing under € 5 million for exports to emerging markets. Whole 50% of these “small ticket” export credits will be rejected by banks, often even before application processing.

HandEX is aimed at small and medium-sized enterprises (SMEs) medium to long-term financing requirements up to € 5 million (so-called “small tickets”). After its founding less than a year ago, the team has strong relationships with banks and financing insurance company built. HandEX simplified and integrated export credit and export insurance processes, including guarantees of federal, for which Euler Hermes is mandated.

The goal of HandEX is to be the global export finance partner for SMEs, especially for “hidden champions”, in order to global level to enable competitiveness. Lose in Europe many of these “hidden champions” against competitors from other regions, due to a lack of suitable financing products. HandEX initially focuses on financial support exports of German engineering companies to Latin America “In particular, the export financing for smaller order amounts, as it is typical in the middle class, continues to worry us. The business escapes too many businesses because of the flanking business state Hermes cover is too costly, “said Brodtmann, CEO of the Association of German mechanical and plant engineering (VDMA).

Germany keeps being the business with highest exports in the world

Germany has the highest exports per capita worldwide. With the rapid development of the macroeconomic framework, the consolidation and expansion of international trade relations always significant. This is especially true in the export-oriented mechanical engineering sector, primarily from the described lack of funding as is often the case of the German press and associations reported, so also from the VDMA. Among other Latin America is one growing market for German engineering and other exporters, especially in the context of recent political developments and changes in existing trade relations.

Therefore, HandEX supports first, German engineering companies moving to Latin America export. The expansion is located in more industries and regions already in preparation. An internationalization in Europe will be aspired as soon as HandEX is established in Germany. “We have identified a gap in the financing market, which important for exports throughout the euro area. These financing gap disadvantages SMEs compared to international ones competitors, although the products are at least as good if not even better, “explains HandEX co-founder and CEO.

Published inFintech

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