ATLANTA, Feb. 18, 2016 /PRNewswire/ -- TradeRocket announced that Hitachi Capital America Corp. has committed to provide up to $100 million of funding to the mid-market through TradeRocket's innovative supply chain finance program.
"TradeRocket has identified a market that Hitachi Capital America can help by improving the liquidity, balance sheets and trading relationships of companies within that sector. Their solution, backed by our capital, will help to accelerate growth with participating companies, and will have a ripple effect of providing additional critical capital to their suppliers," said Tom Cross, General Manager of Trade & Supply Chain Finance of Hitachi Capital America.
Trade Rocket's enterprise based global supply chain financing platform allows:
- Buyers to obtain up to $5M of funding to finance their supply chain through an easily integrated cloud based platform
- Suppliers the option to be paid early, with full transparency into the buyer's invoicing process
- Funders access to a recurring flow of short-term, low risk, high return investment opportunities
"We developed the TradeRocket platform to offer access to working capital which is often a constraint to mid-market growth. With Hitachi Capital's financial strength and TradeRocket's leading-edge enterprise class solution we enable mid-market buyers to mitigate that limitation," said Jim Eckstein, CEO, TradeRocket.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to Hitachi group companies and the commercial business sector in the United State and Canada. Hitachi Capital America offers a variety of financing solutions with a business focus on trade, truck, vendor, and medical equipment finance, as well as lease discounting and software financing. Hitachi Capital Corporation, Tokyo, Japan, wholly owns Hitachi Capital America. Together with its parent and sister companies located in the United Kingdom, Singapore, Hong Kong, Thailand, Malaysia, Indonesia and China, Hitachi Capital serves its customers and the Hitachi group of companies worldwide. http://www.hitachicapitalamerica.com/
TradeRocket is a next-generation, financial technology company for the mid-market that enables buyers and suppliers to collectively reinvent the manner in which they fund their working capital needs. TradeRocket opens the mid-market for funders through proven data driven marketing and underwriting techniques. As funders support early payment to their supply chain, buyers can appreciate an increase in their working capital. With TradeRocket, both buyer and supplier receive the benefit of greater flexibility in funding and deploying their working capital. www.traderocket.net
Wendy Glavin: TradeRocket
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