The apparel, footwear and textile industry is witnessing a transformative era where access to financing is becoming a pivotal factor for growth, especially for small and medium-sized enterprises (SMEs).
Air8, a subsidiary of LFX Digital and part of the Li & Fung legacy, has emerged as a beacon of innovation and support for SME exporters, for which the company has won two awards in the Financing and Innovation categories in the 2024 Just Style Excellence Awards.
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The Just Style Excellence Awards celebrate the greatest achievements and innovations in the industry. The programme provides a platform to recognise the people and companies that are driving change and is powered by the business intelligence of GlobalData.
The awards are recognition of Air8’s commitment to reshaping supply chain finance, leveraging its deep industry experience and cutting-edge technology.
Excellence in supply chain finance
Air8’s award in the Financing category underscores its significant impact on SME exporters through its end-to-end financing solutions. By providing a seamless and efficient platform, Air8 has enabled SMEs to access the liquidity necessary for operational continuity and market expansion. The company’s agile financing model covers the entire spectrum from pre-shipment to post-shipment, eliminating traditional barriers to international trade finance.
How does it work:
The platform’s industry-specific insights, drawn from a century-old heritage in the fashion and general merchandise sectors, have been instrumental in augmenting credit decisions. This deep domain expertise allows Air8 to offer financing solutions that address the unique challenges faced by SME exporters. Furthermore, Air8’s role in connecting global funders with SMEs has optimised capital returns and risk management, fostering more secure and stable supply chains.
Innovation in Fintech
The Innovation award in the Fintech category celebrates Air8’s technological advancements that have streamlined the financing process. The company’s technology and insight-based supply chain finance platform, backed by a wealth of supply chain knowledge and data, has revolutionised the way SME suppliers access working capital.
Air8’s data-driven approach, utilising proprietary, alternative, and public data, has enabled more informed credit decisions, thereby unlocking new opportunities for SMEs in the fashion and general merchandise industries.
Air8’s suite of solutions, including Pre-Shipment Finance, Accounts Receivable Purchase, Payable Financing, and Pool Factoring, addresses the acute need for accessible trade finance among SMEs. The company’s innovative use of data has bridged the gap left by traditional banks, which often struggle to serve SMEs due to a lack of transaction-driven models and data for credit decisioning. Furthermore, Air8’s insights portal, A8 PulseLink, provides SME exporters with valuable market risk outlooks and opportunities, enhancing supply chain visibility and enabling informed decision-making.
The onboarding is easy and fully online, and no collateral is required, enabling more SME exporters to access to the fund they need.
Air8’s dual recognition in the Just Style Excellence Awards indicates its pivotal role in empowering SME exporters within the apparel, footwear and textile industry. By combining industry-specific expertise with an innovative, technology-driven approach, Air8 has been driving sustainable growth and opening new horizons for SMEs in emerging economies.
“We are deeply honored and privileged to receive JustStyle’s Financing award for Supply Chain Finance and the Innovation award. The acknowledgement truly inspires us to continue pushing our boundaries and delivering innovative solutions that effectively address the pain points of our clients across the globe.”
Alvin Ho, President of Air8
Company Profile
Air8, a digital venture stemming from LFX Digital and an affiliate of the esteemed global supply chain manager Li & Fung, is a supply chain finance platform focused on supporting small and medium-sized enterprises (SMEs). Boasting over a century of accumulated industry experience, Air8 possesses a profound comprehension of the nuances within the fashion and general merchandise sectors.
The company’s core ambition is to bolster SME exporters situated in developing markets by furnishing them with readily accessible financial solutions and tailored industry insights, thereby fostering enduring growth.
Collaborating closely with a network of suppliers, buyers, and financiers across the globe, Air8 has, since its inception in 2021, facilitated financing for a multitude of suppliers, achieving an accumulated amount of Gross Merchandise Value (GMV) exceeding $2.5 billion.
Contact Details
Website: https://air8.io/
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