HAIFA, Israel, June 21, 2023 /PRNewswire/– ZIM Integrated Shipping Services Ltd (NYSE: ZIM) today announced the expansion of its partnership with cross-border trade finance platform 40Seas, integrating the digital finance solution flexible 40Seas via the
ZIM’s website
as well as Ship4wd, ZIM’s award-winning digital freight forwarding subsidiary.
Expanded Collaboration Demonstrates ZIM’s Commitment to Transforming Traditional Shipping Practices in the Digital Era and Improving Customer Choices by Providing a Seamless Digital Experience to Enable Faster, Lower-Cost Access to Capital to meet their credit needs. This new service will be rolled out gradually in the United States, Canada, United Kingdom, France, Germany, Italy, Belgium, the Netherlands and Australia, with other countries added over time.
With 40Seas’ flexible digital financing solution integrated with ZIM and Ship4wd, customers will be able to defer freight payment for up to 90 days from date of invoice, and take advantage of 40Seas’ line of credit. 40Seas to fund freight, subject to meeting eligibility requirements.
In an environment of macroeconomic volatility and rising costs of capital, SMEs engaged in global trade are struggling to protect their cash flow and generate profits. ZIM and 40Seas aim to help SME importers and exporters bridge this financial gap. Initiating the “Ship Now, Pay Later” concept, 40Seas allows exporters to be paid immediately after shipment, while providing importers with deferred payment options that allow them to drive business growth during the cycle. sale without mobilizing available credit lines.
ZIM participated in the seed funding of 40Seas to the tune of $11 million
at the beginning of this year
and also provided 40Seas with a credit facility of up to $100 million to expand its business with exporters and importers.
Eli Glickman, President and CEO of ZIM,
said :
”
We are pleased to extend our partnership with 40Seas, which continues to underscore our customer-centric commitment, with an integrated solution that will transform the way our global customers access finance, while developing additional revenue streams that complement our business. basic shipping. ZIM and 40Seas are firmly aligned on driving digital innovation in the shipping industry, and together we look forward to pushing boundaries and eradicating finance-related barriers to global trade. »
Eyal Moldovan, co-founder and CEO of 40Seas
, said, “We are thrilled to extend our partnership with ZIM, a market leader who has supported our mission since day one: Combining the strengths of a trade finance platform like 40Seas, a major carrier like ZIM and a vibrant digital freight forwarder like Ship4wd, we can make serious strides in transforming the global logistics landscape. In addition, ZIM’s extensive cross-border trade expertise, strong market position and strong ties to ecosystem players, will be invaluable as we accelerate our global expansion. »
ZIM Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of Section 27E of the United States Securities Act of 1933, as amended, Section 21E of the United States Securities Exchange Act of 1934, as as amended, and the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “believe”, “anticipate”, “expect”, “have the ‘intent to’, ‘strive’, ‘seek’, ‘plan’, ‘may’, ‘anticipate’, ‘target’, ‘objective’, ‘goal’, their variations and similar expressions generally indicate forward-looking statements , but these words are not the only ones to convey these statements. We have based these forward-looking statements on our current knowledge and our current beliefs and expectations regarding possible future events. These forward-looking statements are subject to risks, uncertainties and assumptions, including potential, business, credit, operational and other risks associated with the expansion of the collaboration between ZIM and 40Seas as described in this press release. Actual results and events may differ from these forward-looking statements, including materially.
About ZIM
Founded in Israel in 1945, ZIM (NYSE: ZIM) is one of the world’s leading liner container shipping companies, with established operations in more than 90 countries serving approximately 34,000 customers at more than 300 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide its clients with innovative shipping and logistics services and an exceptional customer experience. ZIM’s differentiated global niche strategy, based on agile fleet management and deployment, covers major trade routes focusing on select markets where the company holds competitive advantages. Further information on ZIM is available on the website
www.ZIM.com
.
About 40Seas
40Seas is a cross-border trade finance fintech platform suitable for SMEs engaged in global trade. Leveraging data-driven technology, the company can offer flexible payment options that are poised to disrupt traditional trade finance solutions and empower supply chain players: importers, exporters, freight forwarders and sourcing agencies to access their working capital faster, easier and at lower cost. Visit the site
www.40seas.com
to know more.
ZIM contacts
Media
:
Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-865-2520
Investor Relations
:
Elana Holzman
ZIM Integrated Shipping Services Ltd.
+972-4-865-2300
Leon Berman
IGB Group
212-477-8438
Contact 40Seas
Nicole Lombardo
Caliber Corporate Advisers
+1-631-357-9593
Logo:
https://mma.prnewswire.com/media/1933864/ZIM_Logo.jpg
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