As we have fully focused on doing our job better every year, at GSCF this year has passed by without us noticing it much. Basically we were very busy with creating and developing new working capital financing structures and related services. In a nutshell, 2014 has been very fruitful.
We believe that actions speak louder than words, in this respect we would like to share with you a summary of the main developments and projects that have been keeping us very focused in the last 12 months.
- Record business volumes. We have been managing over USD 7billion in credit limits on behalf of our partner banks and increased the annual volume funded via our platform by 32%versus 2013. We have processed a record volume of 1.2million billing documents worth dozens of USD billions without a single loss or event of default. We have 18 banks providing financing via our platform and over 1500 obligors on-boarded from multiple industries over 72 jurisdictions. We forecast an even more impressive growth rate for 2015, with a minimum twofold increase expected.
- Refactoring of our technical platform. Following numerous brainstorming sessions, we have come up with major enhancements and brand new features for our state-of-the-art technology platform. These include, amongst others; a new look-and-feel of our web-portal, additional portlets with valuable statistics and scorecards and also the entire reformulation of our financial analysis tool called FAST (Financial Analyst Spreading Tool). These will be released in the New Year.
- Development of our funding vehicle. Successful growth of GSCF’s own funding vehicle Alternative Distribution Financing Ltd. or ADF (gscf-adf.com) with notable demand from companies looking for flexible distribution financing and hybrid receivables solutions Discussions with multiple liquidity providers for ADF have been advancing with important releases to be made public in early 2015.
- New partnerships. GSCF established a partnership with Easterly Capital LLC, a U.S. based asset manager with an investor base formed by large pension funds, insurance and reinsurance companies keen to invest in the trade receivables market via their new vehicle Easterly Global Trade Finance SA in Luxembourg (EGTF). GSCF acts as servicer to EGTF and assists in the sourcing of new Supply Chain Finance assets. We foresee the funding available from the so-called “shadow banking” to grow exponentially in the months to come.
- Growing relationships. Strengthened relationship with a major credit insurer, including the development of a specific insurance coverage layout for our next set of supply chain finance solutions.
We are proud to say that the above has been achieved whilst remaining as a lean company with no debt on its balance sheet and a slowly increasing number of very efficient staff who are highly motivated by the exciting times to come. Wishing all our clients, business partners and colleagues a very happy festive season and a successful 2015, and may the New Year bring us even more opportunities to work together.
CEO of GSCF Group
To learn more about GSCF Group, please contact us.