Standard Chartered and leading Chinese supply chain finance technology solution provider Linklogis have, on Aug 30, entered into a joint venture (JV) to establish Olea, a fully-digitised trade finance origination and distribution platform.

Olea aims to bring together institutional investors seeking opportunities in an alternative asset class with businesses requiring supply chain financing.

Its secure platform and risk analytics offer investors access to investment options that garner returns aligned with their risk profiles.

The platform provides a transparent, speedy, and fuss-free way to access working capital for supply chain participants regardless of size.

The JV is still subject to regulatory approval.

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Olea will be headquartered in Singapore and headed by CEO Amelia Ng. Ng is from SC Ventures, the innovation, fintech and ventures unit of Standard Chartered.

Ng will be assisted by deputy CEO, Letitia Chau, who is the vice-chairperson and chief risk officer at Linklogis.

“By marrying Standard Chartered’s international trade and risk management expertise and unparalleled knowledge of Asia, Africa and the Middle East with Linklogis’ innovations in supply chain technology, Olea is uniquely positioned to reinvent trade finance and be a force for good,” says Ng.

“Olea aims to disrupt today’s trade finance model by matching suppliers’ financing needs with alternative liquidity from investors seeking a compelling asset class linked to the real economy,” she adds.

“Standard Chartered is not only one of Linklogis’ institutional shareholders, but also an important strategic partner. Since 2019, Standard Chartered and Linklogis have accomplished many projects together. The new joint venture, Olea, offers an agile and robust platform, using blockchain and AI technology to drive exceptional efficiency and transparency for suppliers seeking affordable and convenient financing,” says Chau.

Photo: Bloomberg