We are Ernesto Vila @EAV and Alejandro Gutierrez @AleG from ConsolFreight. This is the 2nd of what we hope will be a series of regular updates, the first one being our partnership with Mastercard and FreshSupplyCo.
We are pleased to report that Bloomberg announced that Hanhwa Group, one of the SMEs ConsolFreight has worked with for the past year, has been able to secure an AUD140 MM capital commitment from Global Emerging Markets as they seek to go public. ConsolFreight continues to help them as they expand their operations into New Zealand commencing operations at the end of this month.
Here is a quick overview:
Hanhwa Group is the Australian leader in manufacturing and distribution of GPS and navigation systems used by most major truck manufacturers. They were unable to secure purchase-order (PO) financing from traditional lenders and found a viable alternative in DeFi through ConsolFreight’s logistics-oriented protocol. ConsolFreight purchases the components from multiple suppliers in Asia, transports them to Australia where the components are assembled, then delivers the finished products to the final buyers. To date, ConsolFreight has funded over US$8MM for Hanhwa. We look forward to having similar success and impact on their expansion into the New Zealand and European markets.
We would like to thank you all for your trust in us, and the RWF core team for their continuous support and guidance. Please do not hesitate to reach out to us with any questions.
@EAV @AleG on behalf of all being involved!