Chinese financial technology firm Linklogis and Standard Chartered Bank have formed a joint venture to link institutional investors looking to invest in an alternatives asset class with supply chain financing.
The joint venture is called Olea and is based in Singapore. It aims to bring together institutional investors and businesses that require affordable supply chain financing, the companies say in a joint statement on August 30. The shareholding structure of Olea was not disclosed.
Amelia Ng, managing director of Standard Chartered’s fintech unit SC Ventures, has been appointed chief executive officer of Olea. Letitia Chau, vice chairperson and chief risk officer of Linklogis, is the deputy CEO.
Standard Chartered and Linklogis have been working together since 2019, when they signed a partnership to enhance the UK lender’s supply chain financing business.
Olea “offers an agile and robust platform” using blockchain and artificial intelligence technology to drive “exceptional efficiency and transparency for suppliers seeking affordable and convenient financing”, Chau says in the statement.
London-based Standard Chartered had US$795.91 billion of total assets as of June 2021.
