Removing obstacles to growth and global trade: Stenn partners with Payyd

India is claiming its place among the big hitters of global exports. In May 2024 alone, India's goods exports increased 9.1% (YoY) to $38.13 billion. But despite this incredible growth, Indian exporters still face the same old challenges that can stunt their growth and limit their potential. At Stenn, we’re committed to providing new and innovative financial solutions so Indian export businesses can thrive in the global economy.

And so, we’re thrilled to announce our partnership with Payyd, a leader in dynamic payments technology. With this collaboration, we want to revolutionize how Indian suppliers manage their finances and provide seamless access to the capital they need to grow.

The State of Export in the Indian Market

India now stands as a powerhouse in global trade, with its exports reaching an impressive $432 billion in 2023. This incredible achievement is proof of India’s leading role in the international markets. But what’s even more impressive is India’s ability to export in diverse sectors. 

1. Petroleum Products - USD 15.5
2. Gems and Jewellery - USD 10.2
3. Textiles and Garments - USD 6.8
4. Pharmaceuticals  - USD 5.9
5. Organic and Inorganic Chemicals - USD 4.9 

As the world's fifth-largest economy, India's export prowess not only fuels its own economic growth but global supply chains as well.

The Indian market's vibrancy and dynamism are clear for all to see - with strong trade relationships in numerous countries, exporting goods that meet various international demands. However, Indian exporters still encounter barriers that can slow down their expansion and delay success.

Key Challenges Faced by Indian Suppliers

Indian suppliers frequently grapple with two slippery hurdles: delayed payments and limited access to trade finance. Traditional financing methods are often slow, and overly complex, creating bottlenecks that disrupt operations. These challenges are even more frequent in small and medium-sized enterprises (SMEs) - the backbone of India's export economy.

Delayed Payments
Indian exporters often face long payment cycles, which can stretch from weeks to months. This delay in receiving funds disrupts cash flow, making it difficult for businesses to cover operational costs, pay employees, and invest in growth opportunities.

Limited Access to Trade Finance
Securing trade finance is another major obstacle. Traditional banking institutions require extensive documentation with lengthy approval processes. This lack of accessible financing options often thwarts  Indian suppliers' scalability, both in operations and in meeting an increasing global demand.

As Pete de Souza, VP of Partnerships at Stenn says “The traditional financing process for the world’s exporters simply isn’t fit for purpose - it’s lengthy, complicated, and overly technical.”

Benefits of Financial Solutions and Opportunities for Growth

The partnership between Stenn and Payyd aims to address these issues by providing Indian exporters with easy, fast and effective access to invoice financing.

Here’s how our partnership can transform the trade landscape for Indian suppliers:

Increased Liquidity: Through the Payyd dashboard, exporters can now convert outstanding invoices into working capital. This on-demand capital allows businesses to maintain smooth operations, cover expenses, and invest in new growth opportunities without waiting for long payment cycles.

Flexible Financing Options: Stenn’s non-recourse, single-fee model offers flexibility for exporters to access additional capital when needed. This model is particularly advantageous for SMEs, providing them with a trusted facility to manage their cash flow effectively.

Simplified Process: The seamless integration of Stenn's invoice financing with Payyd’s payment technology simplifies the financing process. Exporters can quickly onboard via Payyd’s platform and access financing solutions without the usual complexities and delays associated with traditional banking.

Enhanced Competitiveness: By overcoming the financial hurdles of delayed payments and limited access to capital, Indian exporters can enhance their competitiveness in the global markets. This financial agility enables them to meet customer demands promptly and expand their market reach.

Supporting Growth and Expansion: With reliable access to working capital, businesses can pursue new market opportunities, invest in innovation, and scale their operations. This growth potential not only benefits individual exporters but also strengthens India’s overall export economy.

“We have built world-class payment capabilities for our exporter base and now with the addition of Stenn as our dedicated financing partner, exporters across India and beyond can avail a trusted facility, when many have no option at all”
Nagarajan Rao, Founder & CEO of Payyd 

For more information about our invoice financing solutions, simply click here. 

Learn more about Payyd and their dynamic payments technology here.

EximPedia Jan 4, 2024
The Hindu Business Line
Statista

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