From Pymnts · PYMNTS · · 1m 30s
Apollo pulls back on trade finance
Apollo is winding down parts of Eliant just as trade finance gets harder to underwrite safely.
In brief
Apollo is winding down parts of Eliant just as trade finance gets harder to underwrite safely. Trade finance is retreating where the collateral is hardest to see, and that retreat is opening the door for FinTechs. Originally reported by Pymnts.
Apollo trims Eliant
Apollo Global Management is shutting down parts of its Eliant Trade Finance platform, Bloomberg reported on Friday, Sept. 11, after a rough year for inventory financing.
What is getting cut
Eliant is winding down mid-market accounts receivable and supply-chain finance. Those products buy invoices and front supplier payments so companies can trade without tying up cash.
A small slice, not the core
The core business, lending directly against companies' stock of goods, stays. Sources say the shuttered lines account for less than 10% of Eliant's total assets.
Built for a hotter market
Apollo and its insurance arm Athene launched Eliant with BNP Paribas in 2022, pitching flexible inventory capital for companies optimizing supply chains and balance sheets.
“Together with Athene, we have established Eliant to serve the growing market for flexible inventory and trade finance solutions”
Collapses changed the mood
Trade finance has drawn heavier scrutiny since a run of high-profile failures, including First Brands last year. Goods are plentiful, but financing them safely keeps getting harder.
“That gap is now FinTechs' opening to challenge banks”
FinTechs step into the gap
PYMNTS Intelligence and Mastercard found 36% of internationally active US SMBs expect to use FinTechs for cross-border purchases this year, up from 30% in 2025. Banks still lead at 69%.
The main idea
Trade finance is retreating where the collateral is hardest to see, and that retreat is opening the door for FinTechs.
