Supply@ME client list and inventory surge in Q1

Fintech platform operator Supply@ME Capital said on Thursday that gross origination of client companies had increased 13% year-on-year in the first quarter of 2021.

Supply@ME stated its client list stood at 187 at the end of March, up from 82 at the same time in 2020, with the value of its inventory on its system almost doubling from €1.22bn to €2.4bn.

Elsewhere, the AIM-listed group said changes had been made to its partnership with the investment fund that had previously agreed to subscribe for its first securitised notes. Supply@ME's partner originally said it would fund a wholly Italian portfolio but has now changed its mind and pushed for a more diversified inventory portfolio across multiple countries.

As a result, Supply@ME said progress had been made with Quadrivio, an alternative investment firm, on the capitalisation of a "captive bank".

Chief executive Alessandro Zamboni said: "2020 saw the groundwork laid for a number of business initiatives which have either been implemented or are close to fruition.

"We aim for the positive revenue impact from several of our business streams to be reflected in the company's next interim statement".

As of 0845 BST, Supply@ME shares had slumped 22.41% to 0.45p.