- Michel joins at a time of increasing recognition of supply chain finance as an asset class
- Increase in transactions driven by Finverity’s technology and solutions a key factor in appointment
13 December 2022 – London. Finverity, the fintech company enabling the trade finance ecosystem in emerging markets to do better, today announces the appointment of Michel Meylacq as Head of Distribution & Funder Relations. The announcement comes at a time of growing recognition of supply chain finance (SCF) as a distinct asset class. Key aspects of Michel’s new role will include developing relationships with new funders and investors and ensuring that Finverity’s technology-enhanced solutions continue making SCF ever more attractive and easily accessible to funders.
SCF offers low default rates, attractive yield and a limited correlation to the broader financial markets. Finverity provides funders and investors with mandate-driven & pre-qualified origination, a full audit trail and comprehensive reporting, achieved through transactions being delivered on Finverity’s platform – all key factors behind the expansion of Finverity’s network of funders.
Michel’s role will mainly focus on growing current and new relationships with funders and investors in the asset class, which include local & international banks, asset managers, alternative and specialist trade finance funds. As part of his role, Michel will also be involved in the structuring of transactions and insurance set-up, where required.
Michel brings strong experience in specialist credit origination, underwriting and distribution. Prior to joining Finverity, Michel was a member of the sourcing and origination team at SC Lowy, London, a global USD 2.5bn high-yield debt & special situations fund. Previously, Michel was a Vice President in Distribution, Funds & Portfolio Management at Greensill, London, where his role focused on establishing SCF as an alternative asset class. From 2015 to 2019, Michel was a Senior Underwriter in Trade Credit and Trade Finance, at AIG, London. At AIG, Michel managed a portfolio of clients and deals in a portfolio with over USD 1.5bn net exposure, mainly focused on the commodity sector, managing the pools of receivables under both plain vanilla and securitized structures. With clients often operating in more challenging markets such as Africa or Latin America, Michel conducted extensive due diligence to underwrite complex credit limits including over 40 on the ground “buyer visits” assessing risk on the ground.
Michel holds a BSc (Hons) in International Business, Finance and Economics from Manchester Business School and is a Board member, Emerging Leaders of ITFA (International Trade and Forfaiting Association).
Michel Meylacq, Head of Distribution & Funder Relations, Finverity, commented:
“Funders are increasingly recognizing that SCF ticks many of their boxes in terms of investment requirements. However, a stumbling stone for existing and prospective investors in SCF has been the lack of a transparent and straightforward channel and infrastructure through which to access this growing asset class. Finverity’s platform solves this challenge by providing a real solution with a host of features that place it well ahead of other available solutions and enables it to act as ‘rails’ for funders. I am delighted to be representing such a powerful offering to funders.”
Viacheslav (Slava) Oganezov, Co-Founder & CEO at Finverity, commented:
“The rather gloomy economic outlook is leading investors to look further afield for assets and strategies that are non-cyclical and uncorrelated to mainstream markets, yet still yield-generating and offering inflation protection. Supply chain finance fits all of these requirements. In addition, Finverity’s deal flow comes from geographies that are much more economically insulated from the current macro & political instability and provide an additional layer of protection. Michel shares our vision of continuing to build out Finverity as an ideal channel for funders to access this growing asset class and we are thrilled to have him on board.”
Finverity was born out of a vision to make the global financial system work for all, one product at a time. The company is on a mission to enable the trade finance ecosystem in emerging markets to do better and bridge the $1.7trn global trade finance gap by channelling capital to where it’s most needed: mid-market companies in emerging markets, which make up the bulk of the gap. Finverity’s award-winning Supply Chain Finance (SCF) technology platform caters to the entire ecosystem of Trade Finance participants and is made available via two routes:
- A digital value-add marketplace that directly matches bank and non-bank funders with pre-qualified mid-market companies seeking supply chain and receivables finance. The marketplace provides a seamless origination, transaction servicing and risk management reporting infrastructure.
- A truly end-to-end cloud-based SaaS solution for banks and non-bank funders enabling full digitalisation of their invoice finance business, inclusive of client portals, onboarding modules, in-house process workflows, automatic disbursals and reconciliation.
Finverity is growing rapidly and building a world-class team to capitalise on the digitalisation trends in trade finance, the increasing need for working capital amongst corporates and an influx of funders searching for yield in this alternative asset class.
Visit Finverity today to find out how we are innovating in the realm of SCF.