Chang’an Inkasso and Velotrade partnership announcement

Velotrade and Chang’an Inkasso Partnered to Support SME Cross-border E-commerce

Jan 7, 2022


Chang’an Inkasso Commercial Factoring Co., Ltd (Chang’an Inkasso) and Velotrade Management Limited (Velotrade) are pleased to announce the strategic partnership to back SME cross-border e-commerce financing.

Hong Kong, January 7, 2022

Under the agreement, the two sides will focus on trade financing for new types of e-commerce and traditional import and export sectors. The partnership aims to develop mutual businesses divergently and cooperate fully in financial services such as e-commerce financing, accounts receivable financing, and cross-border trade financing.

Zheng Haiming, General Manager of Chang’an Inkasso, pointed out that enhancing efficiency in the financial industry and capital market is an irresistible trend. The signing of the comprehensive strategic partnership remarks a new stage of cooperation between Chang’an Inkasso and Velotrade. With the cross-regional integration of resources, the synergy advantages enable the expansion of the scope of services and prepare for the future development of businesses.

“Based on the premise of digital risk control and compliance, we will continue to create innovative factoring products through financial technology. Following the footsteps of Chinese sellers facing the world, we rapidly expand our service capabilities to meet the goal of providing global one-stop financial services to cross-border e-commerce businesses.”

Data shows that from 2017 to 2020, the proportion of Amazon’s Chinese sellers increased by 19 percentage points, from 23% to 42%. Among them, 70% of China’s cross-border e-commerce sellers locate in South China, in which 80% of South China’s cross-border e-commerce sellers locate in Shenzhen, meaning more than 150,000 small and medium-sized cross-border e-commerce sellers in Shenzhen. The exciting business environment and investment prospects in Shenzhen not only foster the growth of enterprises but also stimulate financial institutions to seize the cooperation opportunities brought about by the development of the Greater Bay Area.

Regarding the strategic cooperation, Gianluca Pizzituti, Velotrade CEO and co-founder, mentioned the great potential of the fast-growing cross-border e-commerce business. “Our objective is to develop an e-commerce financing product with proper risk control. The tech-enabled partnership speeds up the credit approval process, while it still ensures a holistic review to secure the trade finance assets to a maximum extent.”

“As the global e-commerce ecosystem evolves, Velotrade keeps on strengthening and diversifying trade financing services on a global scale. We continue to refine our technology and products, including e-commerce financing, invoice discounting, purchase order financing, and supply chain financing. Velotrade delivers highly customised solutions to suit the needs of different businesses and financial institutions.”

Upon the cooperation, Chang’an Inkasso and Velotrade achieve mutual data sharing and enable further collaboration with payment companies. With the substantial funding support and flexibility in payment options, e-commerce sellers can benefit from the trustworthy and effective financing services.

Under the Greater Bay Area framework, Hong Kong-Shenzhen cooperation is becoming increasingly close. The strategic collaboration between Velotrade in Hong Kong, and Chang’an Inkasso, which has set up an operation centre in Shenzhen, is also of far-reaching significance.

The vision of the partnership is to promote openness and sharing, facilitate data fusion, and develop digital and intelligent businesses. Apart from joint brand activities, the two sides will collaborate closely to deliver high-quality cross-border e-commerce operations and constantly refine services to elevate the cooperation.

About Velotrade

Velotrade is a digital trade finance platform used by global businesses to support their capital needs. In 2018, Velotrade became one of the first companies to enter  PingAn Cloud Accelerator. In the same year, Velotrade also completed the very first of its kind RMB cross-border regulated trade financing transaction. In 2020, Velotrade has been selected by MUFG Bank to provide the fintech solution for internal trade service enhancement.

Awarded by the Hong Kong Monetary Authority for its outstanding platform capabilities, Velotrade provides efficient customer support and sustainable financing services. Regulated by the Securities & Futures Commission of Hong Kong, Velotrade abides by prudent compliance procedures and financial management control.

Velotrade is currently active across regions, including Greater China, Vietnam, and Europe.

About Chang’an Inkasso

Chang’an Inkasso is a state-owned-holding, foreign-shared and market-oriented accounts receivable service provider – a general member of the Commercial Factoring Professional Committee of the China Association of Trade in Services (CFEC) and a member of the Factors Chain International (FCI).

In addition, in 2017-2020, Chang’an Inkasso has consecutively won the China Factoring Industry Innovation Award issued by CFEC. In August 2019, it became the first (only) commercial factoring company in China eligible to provide US dollar financing.

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