HPD LendScape, (“HPD”) a leading Asset Based Finance (“ABF”) software platform, has opened its first Asian office in Singapore. To mark this event, HPD in collaboration with FCI, is holding the first Receivables Finance Workshop in Singapore with over thirty regional and global banks and factoring companies. The opening of the office reflects HPD’s increasing presence in APAC and the growing popularity of Asset Based Finance (“ABF”) in the region.
The event, a half-day workshop being held in partnership with FCI, the global network of the leading commercial ABF providers, will provide an opportunity for lenders to discuss current trends and issues in the receivables finance industry. It will also offer an opportunity for FCI members to meet with Kevin Day, Global CEO of HPD, and acquaint themselves with the product and services that HPD has to offer.
HPD is continuing to expand across markets in APAC, with the Singapore office the company’s first foothold in South East Asia. With the growing use of ABF as a form of SME financing in the region, HPD and FCI are looking to support providers by providing the best technology and software, as well as professional support and access to an international network.
APAC accounted for over 25% of all factoring value in the world in 2018, representing €679bn, with Singapore accounting for nearly 10% of value in the region. In terms of export/import value, Singapore is second only to China, accounting for over €4bn of transactions, and a major focal point for the industry.
Kevin Day, Global CEO of HPD LendScape said: “HPD LendScape has long looked to Asia as the next logical step in its expansion globally. As one of the fasted growing economic regions in the world, with Singapore being a hotbed of high growth SMEs and innovative finance providers, HPD establishing a presence here will help us further support businesses with the financing they need.”
I am delighted to be working with FCI on this collaboration. Both HPD and FCI bring their own unique knowhow to this workshop, and we believe our international networks will benefit local banks and lenders to help provide the best ABF services the can to their clients.”
Lee Kheng Leong, Regional Director for South and South Asia at FCI said: “Receivables finance is a fast growing industry in Asia, and Singapore is seen as a centre of excellence for the region, with other countries looking to the country for examples of best practice. HPD and FCI see great potential for expansion in this market and we believe this will further spur the growth of this form of financing and as well as the expansion of businesses across Asia.”