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MODIFI will use the funds to expand into the US.
MODIFI s digital trade finance platform provides SMEs with buyer and seller financing in a matter of days.
MODIFI tripled its business in 2020 and launched in four new markets during the pandemic - China, Hong Kong, UAE and Spain. The trend has continued in 2021 with the launch in the Netherlands. AMSTERDAM, THE NETHERLANDS - Media OutReach – 17 March 2021 - Global fintech MODIFI announces a new 60m USD debt facility with Silicon Valley Bank (SVB), bringing its total raised capital to 111m USD. The facility from SVB s German Branch will be used to address increasing demand in existing markets, as well as fuel MODIFI s continuing growth and finance buyers and sellers in new geographies, particularly the US.
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BIMCO: New Law in California affecting shipownersâ liability for oil pollution
25 Jan 2021
Christian Hoppe, Manager, General Counsel at BIMCO, on Thursday (21 January) published a summary of a new law passed in California, USA, doubling existing fine thresholds for oil spill violations and its possible implications on insurance policies:
The new California law, which entered into force on 1 January 2021, doubles the existing minimum and maximum fines for certain oil spill violations related, among other things, to persons who knowingly engage in or cause the discharge or spill of oil into waters or knowingly fail to begin clean-up etc. of spilled oil. For certain violations the new law also authorises the court, at its discretion, to impose a fine of up to USD 1,000 per gallon spilled in excess of 1,000 gallons of oil â a fine which is not statutorily capped.
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