HONG KONG--(BUSINESS WIRE)--Seabury TFX (“STFX”), a specialist in trade finance solutions for supply chains and a company of Seabury Capital Group LLC, rolled out an all-new finance program, TrakFin (TrakFin.com), on the sidelines of the 2020 Hong Kong Fintech Week.
The finance program is targeted to enable companies in the app store and advertising community to gain faster access to their earnings and deploy their resources more rapidly to fuel product development and business growth.
Companies that are selling apps and placing advertising on major platforms, such as Google Playstore, Apple iTunes, and Google Adsense, often face delays of up to 60 days in gaining access to their earnings. App developers, in particular, are underbanked because their monthly revenues frequently do not reach the $1 million threshold required by traditional banks and their account receivables programs. The complexity and size of these digital transactions further compound the challenge, with traditional programs invariably turning companies away because they are unable to manually verify sales.
“TrakFin.com is the ‘go-to’ solution for streamlining the process for app store and ad companies to shorten their cash conversion cycle,” explained Seabury TFX Chief Executive Officer Robert Lin. “By getting paid earlier from the TrakFin finance program, businesses operating in the app development and online advertising space no longer need to be cash strapped and can focus their efforts on further product development and business growth.”
Originally started as an experiment after Seabury TFX had developed digital APIs to bring in supply chain transaction data into its funding platform, TrakFin has evolved into a robust tool that facilitates company onboarding and sales data verification, as well as streamlines funding and reconciliation processes.
“Our platform allows us to easily integrate, analyze, and process multiple sources of data for use in account receivables discounting scenarios,” added Lin. “By following a straightforward sign-up process, a facility can be set up and funds deployed quickly. Thus, companies simply do not have to wait 60 days for their app store and advertising earnings.”
Margaret Chan, Seabury TFX’s Vice Chairman, concluded: “TrakFin is an excellent extension to STFX’s growing suite of trade finance products and services, which further advance our objective to bring the disruption and innovation to the trade finance space that contribute to bridging the gap in an underbanked sector.”
Visit TrakFin.com for more information.
ABOUT SEABURY TFX
Seabury TFX (“STFX”) is a Hong Kong- and U.S.-based company providing trade finance solutions to supply chains around the world. STFX’s unique platform harnesses the power of data and technology to originate trade finance transactions. STFX is a subsidiary of Seabury Capital LLC (“Seabury Capital”), a global firm founded in 1995. www.seaburytfx.com
ABOUT SEABURY CAPITAL GROUP
Seabury Capital Group LLC (“Seabury Capital”) operates a number of specialty finance, investment banking, technology, and software companies with a core focus anchored in aviation, aerospace & defense, maritime, and financial services & technology. Since its founding in 1995, Seabury Capital has taken ownership stakes in software and asset management businesses servicing the aviation and travel industries. Seabury Capital ended the year 2019 with over $1 billion in assets and intends to leverage those resources to launch one or more specialized investment funds in aviation, travel, and technology in 2020, under a newly incorporated investment fund manager, Seabury Capital Management LLC.
Within the last few years, Seabury Capital has expanded its portfolio by investing in early stage startup companies within the financial technology industry and structured investment products. In addition, Seabury Capital owns and operates FINRA, NFA and FCA regulated investment banking services firms in the U.S. and U.K., respectively, serving external clients as well as assisting the companies in which Seabury Capital has invested.
Seabury Capital has operations in New York, Amsterdam, Beijing, Berlin, Chicago, Cordoba, Dallas, Dublin, Durban, Edison (NJ), Guernsey, Hong Kong, Houston, Jersey City, London, Los Angeles, Manila, Minneapolis, Mumbai, Nairobi, Ottawa, Seoul, Shannon, Singapore, Summit (NJ), Stamford (CT), and Tokyo. Reference Seabury Capital at www.seaburycapital.com.
