Subscribe to RSS feedOctet takes trade portal to US
Business-to-business trading network operator Octet was starting operations in the US this month, general manager Willy Bagg has told Lloyd's List DCN.
The online trade and finance facilitator has linked with privately-held New York asset-based lending firm Rosenthal & Rosenthal to bring the Australian concept to the US.
Originally started to help link importers from China to Australian buyers and ease their documentation and payment issues through a secure portal, the firm, also privately held and funded, decided the US expansion was a natural next step, given the amount of business done between the US and China – even during the recession.
Mr Bagg said his firm believed that entering the US market at the bottom of the economic cycle would reap dividends as a recovery gathered pace.
Octet has said it would soon allow freight forwarding costs to be incorporated into the overall payment cycle.
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