Press release, London, February 14th 2023
Profitable trading in the 6 month period to end January 2023.
Signing a major new SaaS contract with a leading, listed UK retail group.
Closing a substantial new equity raise to fund our scale-up.
Our scale up is well under way:
Kris Van Broekhoven, CEO PrimaTrade commented that: "These are exceptional results as both private equity and retail markets around the world are adjusting to new realities. We aim to add exceptional value to our clients whilst retaining a focus on operational profitabiility as we scale. These are the simple principles that drive good shareholder returns over the long term - and we are delivering."
Tim Nicolle, CPO and Founder, PrimaTrade commented that: "Our platform is scaling exceptionally fast based on the high quality of our teams and our agile methodologies. Efficient, distributed processing platforms can transform how organisations operate, quickly delivering significant savings without needing large upfront investments or complex projects."
About PrimaTrade: PrimaTrade Systems Limited provides a supply chain technology platform which enables corporates of all sizes efficiently to manage documents, data and working capital relationships with their suppliers. Our clients achieve significant cost savings whilst delivering essential control, ESG and regulatory wins. PrimaTrade was launched in May 2022 to build an enterprise SaaS business organically and by acquisition and the company operates from its base in the United Kingdom with a presence in key global territories (UK, South and East Asia, US). See further www.prima.trade.
PrimaTrade is at the forefront of a new operating model in retail based on the decentralisation of typically expensive and inefficient head office processes. On our platform, suppliers do the work at source so that good data and correct documents matched to purchase orders flow from the outside to the centre. And all this is achieved without replacing or materially touching core systems.
Our platform is divided into six integrated modules which can operate independently depending on client needs. With the exception of PrimaMatch, they can be deployed without an IT project.
PrimaShip: capture, digitise and analyse supply chain documents like commercial invoices, packing lists, transport documents, certificates and inspection reports. Suppliers do the work as they ship.
PrimaESG: extend PrimaShip to include product-level documentation to prove origin and ESG claims for your products.
PrimaMatch: provide a feed of purchase orders to our platform, and suppliers can then match invoices and transport documents to purchase orders (3-way match).
PrimaApprove: automated payment approvals against commercial and transport documents - enabling your suppliers to get paid as they ship.
PrimaEarlyPay: use your own surplus cash to provide early payments to suppliers against approved documents and reduce the cost of goods that you purchase.
PrimaSCF: use bank finance or cash from specialist funders (alongside your own funds) to finance your suppliers against approved documents at shipment and reduce the cost of goods that you purchase.
PrimaTrade has a sister company, ES3G Limited, which is a leading provider of human rights due diligence software in supply chains globally.