Blockchain-based invoice financing provider VoloFin has partnered with Highmore, a US-based alternative asset management group, as the Singapore fintech looks to deepen its working capital support for SMEs. 

VoloFin, which has offices in the US and India as well as its Singapore headquarters, helps SMEs unlock liquidity in unpaid invoices via its financing platform. 

Highmore, which manages and advises on assets worth over US$2.7bn, also provides working capital solutions to SMEs through its trade and specialty finance business. 

The strategic partnership will be “mutually beneficial” in giving smaller companies access to liquidity on a tailored basis, fuelling future growth, says Dipak Jogia, co-founder and managing partner at Highmore. 

VoloFin co-founder and chief executive Mohit Agarwal adds that Highmore’s experience in working capital solutions can combine with VoloFin’s use of technology “to create an attractive investment asset [that] will help bridge the gap in SME financing”. 

The partnership will target SMEs involved in US-Asia trade, VoloFin says. The company has previously acted as a global distribution and origination partner with Polytrade, helping the decentralised lending platform source deals outside of its core markets in Asia. 

“The partnership with VoloFin is an organic extension of our mission which is to provide best-in-class trade finance solutions to SMEs worldwide,” adds Highmore’s Jogia.