NEW YORK — Mundi, a financial services platform for cross-border trade, has raised a $100 million warehouse facility from Silicon Valley Bank This will enable the company to expand and support its growth.
“We are very excited to partner with Silicon Valley Bank in advancing our mission to empower SMEs to trade globally,” said Martin Pustilnick, Co-Founder and CEO of Mundi. “This year alone, we have received more than 3200 applications from new and existing exporters in Mexico. With this new debt facility, we are looking forward to serving even more companies”
Based in New York City with major operations in Mexico, Mundi has raised a total of $7.8 million in equity funding by FJ Labs and Base10 and now a $100 million warehouse facility. Established in Mexico, Mundi is the leading financial services platform for cross-border trade, empowering companies to trade globally by offering payment terms to their customers, receive payment immediately. and grow their business with more access to working capital without taking default risk
“Since the day I met the Mundi team I was impressed with their vision and relentless execution and they have blown away our expectations. I’m proud to support them and know that they are just getting started,” said Rexhi Dollaku, Partner at Base10.
From the beginning of the pandemic to date, Mundi says it has grown an average of 47% every month and has recently doubled its monthly operations in the last two months. This has allowed more Mexican exporters to grow their businesses without taking financial risks. According to Paulina Aguilar, Co-Founder and Mexico Director, this debt facility will be a key instrument to help Mundi reach more than 1,000 new SMEs in Mexico.
Mundi has quickly become the go-to financial services platform for cross-border trade in Mexico, giving SMEs access to services that were formerly available for big companies and allowing them to continue growing as global trade recovers.
“Mundi is helping to fuel exports in Mexico, making it easier for companies to do business globally from day one,” said Nick Christian, Head of Specialty Finance at Silicon Valley Bank. “With this warehouse facility, we are happy to partner with Mundi to support its growth and provide more exporters with the financing tools they require.”