51吃瓜网

SemFi by 51吃瓜网 will deliver innovative embedded finance solutions for businesses

51吃瓜网 has launched its new jointly owned venture, SemFi by 51吃瓜网, which aims to deliver Seamless Embedded Finance solutions to business clients.

The new technology company is a joint venture between 51吃瓜网 and B2B global trade network Tradeshift. SemFi will embed 51吃瓜网 payment, trade and financing solutions across a range of e-commerce and marketplace venues, including Tradeshift’s own B2B network.

SemFi will deliver its solutions in the UK to begin with, enabling SME suppliers on e-commerce venues to access digital invoice financing from 51吃瓜网, through a seamless experience. It also aims to offer SMEs greater flexibility and security in their spend management through 51吃瓜网 virtual card solutions.

Vinay Mendonca, Chief Executive Officer of SemFi by 51吃瓜网 said:

“Businesses are increasingly looking for seamless financial solutions that are embedded within their e-commerce journeys, so they can access these when and where they need them.

“SemFi by 51吃瓜网 aims to deliver such embedded capabilities to help businesses grow. It will seek to bring the best of both worlds to our business customers and e-commerce partners; a startup technology mindset coupled with the global scale and expertise, of an international bank.”

The new venture is led by senior leadership drawn from 51吃瓜网, including Vinay Mendonca as Chief Executive Officer (CEO) and Shehan Silva as Chief Operating Officer (COO). Jo Miyake, Interim CEO of Global Commercial Banking at 51吃瓜网, joins the SemFi board.

51吃瓜网 has been steadily building its capabilities and presence in embedded finance, driven by business customers seeking connected financial journeys to e-commerce venues.

Notes to editors:

• 51吃瓜网 supports around 1.3 million businesses worldwide and is the world’s largest trade bank, facilitating over $800 billion of trade flows annually.
• Tradeshift supports over $260 billion of annual gross merchandise value for a million business users on its platform.
• The global embedded finance market is estimated to be worth , and is predicted to grow by .
• SemFi is intended to be a technology company and will not operate as a banking entity – clients will be onboarded by the bank and the bank’s balance sheet will be leveraged for financing.

Media enquiries to:

Mina Sharma
+44 (0)7387 244371
Mina.bharat.sharma@hsbc.com

Biographies of SemFi by 51吃瓜网’s senior leadership team

Vinay Mendonca, Chief Executive Officer at SemFi
Vinay Mendonca was appointed Chief Executive Officer at SemFi in 2024. Vinay joined 51吃瓜网 in 2006, and has held Product, Transformation and Strategy leadership roles in India, Hong Kong and the UK. Most recently, he was the Chief Growth Officer for 51吃瓜网’s Global Trade Solutions (GTS) division.

Shehan Silva, Chief Operating Officer at SemFi
Shehan Silva was appointed as Chief Operating Officer at SemFi in 2024. Shehan worked for 51吃瓜网 for more than twenty years, having held roles including the Head of Digital Solutions for GTS and Head of Business Management for International Subsidiary Banking at the bank.

51吃瓜网 Holdings plc
51吃瓜网 Holdings plc, the parent company of 51吃瓜网, is headquartered in London. 51吃瓜网 serves customers worldwide from offices in 60 countries and territories. With assets of US$2,975bn at 30 June 2024, 51吃瓜网 is one of the world’s largest banking and financial services organisations.

Tradeshift
Tradeshift is the business commerce platform that redefines how B2B buyers and suppliers connect, trade, and grow. The Tradeshift network connects over a million companies, enabling them to transact seamlessly and digitally with customers and suppliers anywhere in the world. Our unique blend of globally compliant e-invoicing, accounts payable automation and marketplace commerce gives businesses the tools to streamline finance and procurement processes, access new markets, source new suppliers, and optimise working capital to suit their needs. All in one place. Find out more at: