Incomlend Invoice Financing Programme Strengthens Production Capacity of India-Based Bulk Bag Manufacturer SafeFlex

SINGAPORE – Media
OutReach – 8 February 2022 – Global invoice financing marketplace, Incomlend, announced
a multi-million invoice financing programme for SafeFlex International Limited
(SafeFlex), a leading India-based manufacturer of Flexible Intermediate Bulk
Containers (FIBC), poly-wovens and poly-knits, with four manufacturing plants
across the country. The working capital solution enables the company to finance
and increase the production capacity of its pharma and food-grade industrial
container and bulk bags to capture new business opportunities with potential
and existing buyers.

SafeFlex
has seen considerable revenue growth over the years, and it plans to expand its
production capacity further. The company’s portfolio of over 500 global buyers
comprises long-time buyers who are distributors and manufacturers based in
developed nations such as the US, UK, and Europe.

Incomlend
Invoice Financing Programme will play a key role in SafeFlex’s expansion plans
to double production capacity and increase revenue. It allows the company to
capitalise on the opportunities in the growing global bulk bags market, which
is expected to reach nearly US$5 billion in value by 2023.

Traditionally, it takes SafeFlex up
to 90 days to cash in an invoice. However, the extended payment terms can
undermine their financial agility and limit their operations and manufacturing
output. With the quick turnaround facility provided by Incomlend, the
manufacturer can cash in an invoice as early as three days after the goods are
shipped to its buyers. It provides them with the cash flow needed to fund their
next production cycle and effectively expand their capacity to meet new or
increased orders from their buyers.

Founded in Singapore and with offices
in Europe, India, and Southeast Asia, Incomlend connects small and medium
enterprises (SMEs), like SafeFlex globally, with communities of investors. It enables
them to buy and sell individual invoices via a proprietary tech-enabled and
secure invoice exchange platform.

SafeFlex International Limited CEO
and President Jitesh Agrawal said:

“SafeFlex is excited to form
this long-term partnership with Incomlend. Its Invoice Financing Programme’s
quick turnaround model provides us with the cash flow we need to expand our
business and operations. This will place our company in a stronger position for
growth as economies start to recover and the demand for our products continues
to surge.”

Incomlend
CEO and Co-founder Morgan Terigi commented:

“The
appetite for FIBCs and bulk bags are expected to rise in the coming months as
economies globally reopen, and global trade becomes increasingly active. With India
being one of the world’s largest FIBC and bulk bags suppliers, manufacturers
have a tremendous growth opportunity. As a company with a strong foothold in
the Indian manufacturing industry, Incomlend has an unwavering commitment to supporting
SafeFlex and SMEs worldwide with their business and production growth. Our quick
turnaround solutions will provide them with the financial means to bolster
their export capacity and capture new revenue streams.”

For
more information on Incomlend, please visit https://www.incomlend.com/.

 

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