India Factoring has launched a wholly owned subsidiary, India Factoring (IFSC) Private Limited, in the Gift City special economic zone in Gujarat.
The new entity is regulated by the International Financial Services Centres Authority (IFSCA) and is set to offer factoring and trade finance solutions to exporters and businesses “seeking to unlock liquidity, manage trade risk and optimise working capital”, India Factoring said.
India Factoring and Finance Solutions, itself a subsidiary of European trade finance lender FIMBank, is one of India’s country’s top export factoring providers, according to FCI data. It is also present in more than 30 countries.
Ravi Valecha, director at India Factoring IFSC, said the launch was “a strategic milestone” in the firm’s growth journey.
“Gift City provides us with an excellent platform to deliver world-class trade finance solutions while extending the trusted India Factoring experience to a broader international audience,” he said.
“We look forward to further enabling our customers’ global ambitions with innovative, transparent and customer-centric financial solutions.”
The launch comes just weeks after the IFSCA published a circular allowing eligible Gift City finance companies to benefit from capital relief on credit-insured factoring exposures, a move Valecha called “a vital reform” that aligned the financial centre more closely with international norms.
