Supply@ME Capital plc operates a platform that provides inventory monetisation services to manufacturing and trading companies in the United Kingdom, the Middle East, Italy, North Africa, the United States, and internationally. The company is based in London, the United Kingdom.
Operations
Team
Directors
Alessandro Zamboni – Chief Executive Officer and Executive Director
Alessandro is a director who specialises in the financial services industry and related strategic and digital models. Since 2008, he has been managing the delivery and the sales operations of a consulting company specialising in Regulatory & Internal Controls for Banks and Insurance Firms. He founded TAG, the former parent company of Supply@ME S.r.l., in 2014. He holds a BA degree in Economics from the University of Turin.
Albert Ganyushin – Independent Chairperson and Non-Executive Director
Albert was appointed as independent chairperson and a Non-Executive Director in 2022 following a long career in capital markets. Since 2017, he has served as Head of Capital Markets at Dr. Peters Group with responsibility for international institutional business, including investment management, capital markets, financing and investor relations. Prior to joining Dr. Peters Group, between 2010 and 2016, he worked in leadership roles in the listings business of NYSE Euronext Group after a career in investment banking that started with Deutsche Bank A.G. (London Branch) in 2000. He graduated with an MBA degree from London Business School in 2000 and began his professional career as a management consultant with Accenture in London in 1995.
Enrico Camerinelli – Independent Non-Executive Director
Mr. Camerinelli keeps abreast of market trends and business practices by taking an active part in projects launched by the United Nations Economic Commission for Europe, the World Bank, the World Trade Board, and the Council of Supply Chain Management Professionals. He regularly attends major industry events as invited guest speaker and writes on specialized magazines and papers. He holds an MSc in Electronic Engineering from Università degli Studi "La Sapienza", Rome, Italy.
David Bull – Independent Non-Executive Director
Mr. Bull, a Chartered Accountant, is a technology-driven experienced financial services professional with a banking and financial services digitisation mindset. He has held a number of senior board roles within banking, asset finance, treasury and credit management institutions, including several years as Chief Financial Accountant at The Bank of England, and is currently non-executive director of Epsion Capital Limited, an independent corporate advisory firm based in London. He holds a BSc (First Class) in Mathematics and Statistics from the University of Bradford.
Andrew Thomas – Independent Non-Executive Director
Andrew has over 20 years' experience in various business advisory roles and during this time has worked across the US, UK, EU and APAC regions, acquiring expertise of onshore and offshore fund structuring and oversight, particularly in relation to regulatory issues. He also has extensive experience in mitigating ESG risks while helping organisations to maximise ESG opportunities. He holds BA in History and Politics from the University of Exeter.
Dr. Thomas (Tom) James – Executive Director
Tom is an Executive Director, and the CIO, CEO and co-founder of the Trade Flow Funds and FinTech solutions. He has over 30 years of commercial expertise in the commodity and energy industry and is the business and system architect for this unique and innovative digitised trade finance solution for bulk physical commodity transactions. He has experience of senior regulated roles in financial institutions (including Bank of Tokyo Mitsubishi UFJ, Credit Agricole and Credit Lyonnais) and various trading firms including BHP Billiton, covering a full range of functional areas including trade finance, project finance, investment banking, supply chain/operations, derivatives, physical markets, and fund management. During his career he has operated in many countries in Africa, Europe, Middle East, and Asia Pacific. He has authored over nine books in the energy and commodity trading and risk management field and served as Chair Professor and Adjunct Professor at various universities around the world and is a former member of the United Nations FAO Commodity Risk Management Advisory Group, and a former Senior Energy Advisor to the United States Department of Defense (TFBSO). He holds a PhD in Practices for the Global Commodity Markets within the Functional Disciplines of Trading and Risk Management and a Masters in Energy Price Risk Management from Middlesex University London.
John Collis – Executive Director
John is an Executive Director, and is co-founder of the Trade Flow Funds and FinTech solution where he holds the position of Chief Risk Officer (CRO). As well as overseeing the development of the fund’s critical legal infrastructure and working with leading counsel on its enforceability, John has overseen the classification of the specialist intellectual property developed and acquired by TradeFlow and its licensing. John is a commercial lawyer with expertise in regulatory, compliance, structuring, and transactional matters. John operated his own law firm from 2003, specialising in international commercial work. John has written and lectured about the rule of law, Eurasia Economic Union, CSTO, and International Commercial Enforcement. Before becoming a lawyer, John worked for Ernst & Young, he was educated at Oxford University and is chairman of Hertford College RFC.
Senior management
Amy Benning – Chief Financial Officer
Amy gained Chartered Accountancy qualifications in New Zealand while working with KPMG on a range of clients across various industry sectors. On moving to the United Kingdom, Amy worked briefly with BP’s shipping arm, before moving to PwC’s London Capital Markets Team where she spent 12 years focusing on technical accounting, mergers and acquisitions and initial public offerings for a wide range of clients. In 2018, Amy moved to Alfa Financial Software Holdings plc, a developer and provider of software for the automotive leasing sector company with ordinary shares admitted to a Premium Listing and to trading on the Main Market. As Finance Director, Amy was responsible for the team managing accounting, reporting (internal & external), corporate governance, audit, systems, process improvement, controls and transactional accounting. Amy joined the Group in June 2021. She holds a BCA in Accountancy, a BSc in Genetics, Biochemistry and Molecular Biology and a post-graduate diploma in Professional Accounting from Victoria University of Wellington, New Zealand.
Stuart Nelson – Group Head of Enterprise Risk Management
Stuart is an experienced credit risk analyst, with global experience of assessing the risk of financing solutions across multiple asset classes. Having begun his career at JPMorgan in the EMEA Emerging Markets Team in 2000, he then spent almost two decades in leadership roles at S&P Global Ratings. During his time at S&P, he managed multiple teams across the European office network in London, Milan, Frankfurt, Madrid and Paris, focusing on the assessment of asset securitisation in all sectors, with oversight of ratings on securities of more than €50 billion equivalent over that period. From 2015, he concentrated his attention on the refinement and validation of risk methodologies across a global spectrum of asset classes. He joined the Group in 2020, where he currently monitors all aspects of the risk and operational functions. He holds a Masters in History from the University of Cambridge.
Alice Buxton – Chief People Officer
Alice is a human resources leader motivated to help businesses succeed by creating environments which enable individuals, teams and leaders to thrive. She has considerable experience in the Financial Services and FinTech industries. Most recently she built the Global Talent function at Greensill, helping the business grow its workforce from approx. 250 to over 1200 in multiple jurisdictions in just over 2 years. Previously she worked as an Executive Director in Goldman Sachs Human Capital Management Division, focusing on the EMEA Trading floor and Risk, Audit and Compliance teams attracting and developing high potential talent. Before this she worked in Talent Acquisition for Ernst and Young’s London office, recruiting for their risk and advisory business. Alice holds a BSc in Psychology, MSc in Human Resource Management and is a qualified corporate and executive coach.
Mark Kavanagh – Group Head of Operations and Transformation
Mark is an experienced Risk Leader with over 25 years in Credit & Risk functions. Before joining the Group, Mark worked for Greensill Capital as Head of Product Risk. Whilst there, he implemented Accounts Receivable policies and procedures, installed an AR platform, helped Greensill Capital expand territorially, and trained the Credit team on any new product offerings, acquisitions and integrations. Prior to that, he worked for GE Working Capital Solutions (the monetisation arm of General Electric group) for 15 years, heading up their European Credit Team, managing the auto scoring and decisioning system, and ensuring processes were safe and efficient.
Nicola Bonini – Group Head of Origination
Nicola has more than 20 years' experience in balance sheet lending and cashflow finance, gained during her time at some of the UK’s most prominent banking institutions. Previously, she was Vice President and Head of Commercial Finance at Bank Leumi (UK) plc, where she managed a portfolio of companies with turnover of up to £1bn. Before this, Nicola served as Executive Director at Falcon Group UK, where she joined the newly formed UK inventory finance team. Nicola has also held senior, highprofile business development and relationship management roles at major banks, including BNP Paribas, The Royal Bank of Scotland and Bank of Scotland Corporate. Nicola joined the Group in September 2021 to take a leading role in business development, client onboarding and retention. She holds a BA in Business Studies from the University of East London.
Market
Competition
Financials
Risks
Risk factors specific and material to the group
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The group is at the early stage of its development, has not generated consistent revenues from its operations to date and is not currently profitable.
If the group is unable to maintain or increase originations through the platform or if existing customers or IM funders do not continue to participate on the platform, its business, results of operations, financial condition or prospects will be adversely affected.
If the scoring models and processes that the group uses contain errors or are otherwise ineffective, or if customer data is incorrect or becomes unavailable, the group’s business may suffer.
The group has built value into its business through the TradeFlow Acquisition.
Any failure of the platform or the group's future platforms, software and technology infrastructure could materially adversely affect its business, results of operations, financial condition or prospects.
The group's ability to protect the confidential information of its customers and IM funders may be adversely affected by cyber-attacks, computer viruses, physical or electronic break-ins or similar disruptions or faults with its systems.
The group may be unable to retain or hire appropriately skilled personnel required to support its operations.
The group’s success and future growth depend significantly on its successful marketing efforts, increasing its brand awareness, and its ability to attract new IM funders and customers.
The supply chain financing market is competitive and evolving.
Unfavourable general economic conditions may have a negative impact on the results of operations, financial condition and prospects of the group.
The group may need additional financial resources to develop the platform for future success.
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Uncertainties in the interpretation or application of, or changes in, IFRS or local GAAP could adversely affect the "derecognition treatment" for customers that comply with IFRS or local GAAP and accordingly reduce customers’ or IM funders’ participation on the platform.
The ownership and use of intellectual property by the group may be challenged by third parties or otherwise disputed.
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Shareholders’ interests may be diluted by future issues of Secondary Admission Shares and Further Admission Shares.
If for whatever reason the company does not exercise the Mercator Repayment Option and settle all outstanding amounts due to Mercator by way of a payment of £3,536,553 in cash in immediately available funds prior to or on 17 October 2022, it may be required to procure additional authority from Shareholders to be passed at a general meeting to issue and allot further Ordinary Shares on a non-pre-emptive basis up to an estimated maximum aggregate nominal value of £113,942.34
Prospective investors and Shareholders should be aware that there may be possible volatility in the price of the Ordinary Shares
A Standard Listing affords Shareholders a lower level of regulatory protection than a Premium Listing.
Dividend payments on the Ordinary Shares are not guaranteed, and the Company does not intend to pay dividends for the foreseeable future.
The group is subject to complex taxation in multiple jurisdictions, which often requires subjective interpretation and determinations. As a result, the group could be subject to additional tax risks attributable to previous assessment periods.
Changes in tax law or the interpretation of tax law, or the expansion of the group’s business into jurisdictions with less favourable tax regimes, could increase the group’s effective tax rate and in turn adversely affect its business, results of operations, financial condition and prospects.
There can be no assurance that the company will be able to make returns to Shareholders in a tax-efficient manner.