KKR has provided a credit facility of up to $200 million to Flexport Capital, the trade financing arm of Flexport.
Flexport Capital provides companies access to working capital for inventory and logistics expenses. The credit facility works to allow Flexport Capital to continue its strategy of building a financing product within the Flexport platform, and to further invest in client growth and geographic expansion.
“Flexport Capital’s innovative and fully integrated financing solutions play a critical role in facilitating global trade for some of the largest companies in the world,” comments Avi Korn, managing director at KKR.
“With deeper visibility into overall supply chain health, we can help businesses of all sizes–and their partners–to remove liquidity constraints in the midst of uncertainty,” says Justin Sherlock, head of Flexport Capital. “I’m thrilled to have KKR providing a credit facility to help us execute our vision to make global trade easy for everyone.”