V Party by Velotrade Celebrate, Appreciate and Progress

Transcription

1 V Party by Velotrade Celebrate, Appreciate and Progress Velotrade Oct 9, 2017 On September 27th, 2017, if you weren t at the V party by Velotrade, you missed a great night. The party was hosted by Velotrade in association with Italian Chamber of Commerce in Hong Kong and Macao (ICC). The party was attended by over 80 guests with a broad range of professions such as key executives from HKSMEGA, InvestHK, Cyberport, WHub, NexChange, Belt and Road Global Development Alliance, FHKI, Euler Hermes, MSCI, Hedge Fund, Investment Manager, Foreign Bank, Accountancy firm, Head Hunter, Trading and logistic company, entrepreneurs, etc. It had THREE key messages: Celebrate, Appreciate, Progress. From left to right Mr. Patrick Lam, Director of Business Development, Velotrade Mr. Gilbert Tam, Head of Strategic Projects, Velotrade Mr. Albert Lau, President of Hong Kong Small & Medium Enterprises General Association (HKSMEGA) Mr. Emmanuel Pitsilis, Tech entrepreneur and Investor, Velotrade Mr. Gianluca Pizittui, CEO and Founder of Velotrade Mr. Vittorio De Angelis, Chairman and Co-Founder of Velotrade Mr. Charles D'Haussy, Head of Fintech of InvestHK Mr. Luca Cico, President of Italian Chamber of Commerce in Hong Kong and Macao Mr. Kenny Cheung, Director of Business Development, Velotrade Mr. Robin Walser, CTO, Velotrade

2 Picture: President of Italian Chamber of Commerce in Hong Kong and Macao, Mr. Luca Cico kicked off the party by delivering his opening speech. He first supported the two founders Mr. Vittorio De Angelis and Mr. Gianluca Pizzituti their ambition to design and set up Velotrade expressively to cater to the cash flow financing needs of SME, applying fintech for example to factoring, making the process extremely fast and efficient. He then said No wonder Vittorio and Gianluca are Italians: as you are surely aware of, SMEs are the backbone of Italian economy, and they are also well represented also among the ICC members. Many Italian companies in Hong Kong have expansions plans for which they need innovative funding solutions "The Italian business community in Hong Kong is very strong with more than 175 companies ranging from leading international companies to SMEs and start-ups in different industries and sectors. Many of these companies have expansions plans for which they need innovative funding solutions like the one offered by Velotrade. " said President Cico. 2

3 Time has come for SMEs to secure financing through Fintech Mr. Albert Lau, President, Hong Kong Small Medium Enterprises General Association (HKSMEGA) Mr. Lau in his speech to V party guests pointed out the following: In order to fight money laundering, the banks are now very reluctant to open new accounts for old and new customers and an SME has to go through a lot of red tape to get a new account approved but in most cases unsuccessful. To apply for banking facilities, an SME is favored by a booming property market in terms of mortgage loan because the bank prefers real estate as collateral. If an SME has no real estate for collateral, it should borrow from alternative financial institutions, such as licensed money lenders, pawn shops and even loan sharks. In this case, the SME bears very unreasonably high interest rate. Time has come for SMEs to secure financing through a more innovative and less costly channel, that is, financial technology or fintech, including crowd funding, p2p lending and online factoring, that is, what Velotrade is doing. Fintech co-branded with green financing to become Regional Green Finance Hub Mr. Lau urged the HKSAR Government to take the following initiatives to promote fintech: (1)To set up a task force for formulating a concrete proposal to promote fintech; (2) To reduce default risk by introducing an indemnity mechanism to be implemented by Hong Kong Mortgage Corporation ; (3) To encourage fintech by raising the cumulative funding from HK$200,000 to HK$400,000 through Technology Voucher Program and (4) To practice co-branding between fintech and green financing as a means to position Hong Kong as Regional Green Finance Hub. added Mr. Lau. 3

4 Mr. Charles D'Haussy speaking. His support on Hong Kong start-up Fintech is phenomenon. Velotrade is: A one-stop-shop KYC compliant trade finance Fintech. A Hong Kong based company that has got international perspective. We provide the technical infrastructure, handle the origination, and carry out extensive due diligence and anti-fraud procedures. We also manage the settlements pre and post auctions. Mr. Vittorio De Angelis, Chairman and Co-Founders 4

5 Mr. Vittorio De Angelis, Chairman and Co-Founders thanked all the speakers including Mr. Charles D'Haussy, Head of Fintech, InvestHK for delivering all the guests the awesome speeches. He then added, Velotrade is an Internet-based platform for small and medium-sized enterprises (SMEs) to finance their cash flow needs using their unpaid invoices. SME businesses can use Velotrade to access funds by securing advance payment from participating investors on their outstanding invoices. Velotrade is similar to traditional invoice factoring and receivables financing but with some clear advantages. Our key differentiator is that we have incorporated the latest technology available to deliver rapid funding approval and payments. By incorporating technology, Velotrade is a more efficient operation providing fully approved loans in 2-3 weeks, fully complaint with banking industry regulations. This compares with traditional factoring companies that take up to 3 months. From left to right: Mr. Charles D'Haussy, Head of Fintech, InvestHK Mr. Gianluca Pizzituti, CEO and Founder, Velotrade Dr. Wilson Chan Fung Cheung, General Secretary, Belt and Road General Development Alliance Dr. Stephen Hui, Vice President, Tung Koon District General Association 5

6 Investors can access high-yielding, short maturity assets that they previously had limited exposure. A wide range of investors are looking to participate in this market, but have previously had no means of investing in this asset class. In today s low interest environment investors are seeking uncorrelated assets with more attractive yields to spread their investment risk. Velotrade now provides easier access to investing in such scarce high-yielding, short maturity assets by providing a vehicle for investment in receivables, previously a largely precluded asset class. Velotrade is one of the only ways for qualified investors such as family offices and hedge funds to access this asset class. Traditional sources of funding in trade finance are constrained by increasing capital requirement and cost of compliance. This allows Fintech company a unique position to gain penetration in such a marketplace. Mr. Edmond Lee, CEO of Euler Hermes Hong Kong, Taiwan and Korea 6

7 In the picture: Mr. Cico, Vittorio and Gianluca having a trio photo in front of the Volvo S90 Velotrade Limo. The Volvo Car Group Hong Kong knowing Velotrade's business is in good cause made a swift decision to sponsor 4 brand new Volvo to serve as limo taking our VIPs to the party venue. We believed we are the 1st Fintech that received such a privilege. 7

8 All invoices are insured against debtor non-payment, investors are insulated from default risk. Banks today have much lower appetite to provide trade financing to SMEs, despite the ongoing need to access funding. This is why we believe Velotrade can help. SMEs hold valuable assets in the form of unpaid customer invoices but are unable to monetize them. This situation hampers growth and makes SMEs less productive and less competitive than larger competitors. Invoice factoring or receivables financing has traditionally been offered by banks and specialized factoring providers, but these financing options are increasingly constrained due to increasing bank capital requirements, decreasing risk appetite, increasing costs of compliance and the growing requirement to Know Your Customer (KYC). Last but not the least, all invoices on Velotrade s platform are insured against debtor non-payment, which gives our investors certainty that they are insulated from default risk. About Velotrade Velotrade is an online marketplace where SMEs get funding by selling their invoices to investors who earn above market yields with attractive risk/return profiles. SMEs are experiencing constrained access to traditional financing: increased regulation and greater capital requirements are compounding the problem. Investors are constantly seeking yield from instruments with low-correlation to traditional asset classes, such as equity, fixed income and real estate. By creating a new asset class Velotrade solves these needs: SMEs can get funding by accessing liquidity provided by a pool of diverse investors. The platform is fully digital: technology allows Velotrade to scale its operation while offering a greater degree of flexibility to both sellers and investors. The company was founded in 2015 and the management team has decades of experience in financial markets. 8

9 Learn more about Velotrade at YouTube V Party Channel Media contact: Kenny Cheung, Director of Business Development, Velotrade kcheung@velotrade.com Tel: ext. 110 Sales enquiry: sales@velotrade.com 9