Singapore’s GUUD (Finance) Pte Ltd, the financing pillar of the GUUD group, a trading technology company, has inked an agreement with Mellower Coffee, one of China’s leading speciality coffee chains to provide working capital loans across its coffee supply chain.
The agreement marks the GUUD group’s first foray into the coffee market and is also significant as it allows GUUD to provide credit access all the way upstream to the farmers or growers of coffee bean
The GUUD group’s vision has always been to simplify trade processes so that anyone and everyone can access global trade. As a key player enabling financing for all businesses in the global trade cycle, this project is important to GUUD, as it allows everyone in the supply chain, whether coffee growers, roasters or retailers to be able to access trade financing via traditional and alternative sources and to free up their funds to be re-deployed into the day-to-day working capital needs of their respective businesses.
As part of this agreement, GUUD Finance will provide working capital support of up to USD12 million for Mellower by financing the purchase of coffee beans of Chinese origin from Yunnan during the harvest season, providing farmers and growers with access to the working capital they need.
GUUD Finance will also finance the purchase of coffee powder and other coffee-related products of Chinese origin earmarked for export, helping smaller businesses in China gain access to working capital so they can further grow their export volumes
Mellower Coffee is a plantation-to-cup coffee chain from Shanghai that believes quality speciality coffee is synonymous with a high quality of life. As the leading speciality coffee brand in China, Mellower currently operates a chain of 72 retail stores in Mainland China, Singapore, South Korea and Vietnam.
Ms Cathy Lei, Founder of Mellower shared, “Partnering GUUD Finance will continue to grow our business and start to expand to more markets internationally. By providing working capital financing for all the businesses upstream and downstream in the coffee supply chain, GUUD Finance has been helping all our partners and producers access funding, giving them the opportunity to take in more stocks for sale.
“Their overall expertise in navigating global trade, use of sophisticated technology to track shipments and monitor goods as well as ability to facilitate financing, especially for businesses like ours, is invaluable as we expand to even more countries.”
