Alibaba enlists startups to provide UK trade financing

Anat Mann | 11.03.2015

SAN FRANCISCO (Reuters) - Alibaba Group Holding Ltd has enlisted two UK startups to provide financing for small British businesses looking to buy from Chinese suppliers, aiming to help cash-strapped firms access the world’s largest economy.

The partnerships with iwoca Ltd and ezbob announced by Alibaba on Wednesday are a first for the Chinese company in Europe, and are intended to provide short-term working capital to businesses that otherwise would have trouble securing funds from banks.

Banking

Partnership