Cardo AI has recently participated as a tech enabler to +77M Euros securitization structured by illimity in collaboration with Banca Sistema and Accounting Partners in favor of Trasteel Trading Holding S.A., an industrial and trading group active in the steel, energy, and metal sectors.
This transaction is exceptional in the European securitization landscape as it generates liquidity from the entire working capital by including trade receivables and inventory assets. Moreover, an innovative legal instrument is being used for the first time by adopting a non-possessory revolving pledge1 to secure the investment.
This securitization is an excellent illustration of how technological advancements and enhanced data availability can facilitate the development of more dynamic and customized securitization models. This, in turn, can unlock new funding opportunities to support the real economy in today’s challenging times. To increase funding capacity, it is important for businesses to access new sources of finance and leverage technology to manage complex financial transactions.
Our analytics & data management infrastructure, combined with our partners’ extensive experience in securitization structuring and management, played a crucial role in the success of this complex deal. Cardo AI’s technology enabled all parties involved in this securitization to make quick data-driven decisions to evaluate assets and invoices throughout the transaction’s lifecycle.
“This transaction marks the beginning of our partnership with Accounting Partners. Our goal is to introduce cutting-edge and innovative solutions for securitization management using technology and big data,” said Altin Kadareja, CEO and Co-Founder of Cardo AI. “By adopting this approach, we are confident that it will generate value for all market participants enabling them to manage their portfolios more efficiently”.
“Accounting Partners has been active in the securitization market for over 15 years. We recognized the need to partner with a technology player that could help us complement our capabilities with artificial intelligence technologies. This will enable us to offer more comprehensive and reliable services to our clients” said Fabio Stupazzini, Director of Accounting Partners
Cardo AI facilitates transparency and sharing of all information in securitized portfolios. It enables the management of granular portfolios of any underlying credit, generating analytical databases that provide useful information for managing operations and monitoring performance indicators.
1 – a non-possessory revolving pledge (pegno rotativo non possessorio) – it is referred to an Italian legal instrument.