# Apollo pulls back on trade finance

> Apollo is winding down parts of Eliant just as trade finance gets harder to underwrite safely.
- Title: Apollo pulls back on trade finance · Pymnts | Shortify
- Summary: 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…
- Keywords: trade finance, apollo, supply chain, fintech, lending, business, finance, pulls, back, trade, Pymnts
- Source: Pymnts — https://pymnts.com/loans/working-capital/2026/apollo-scaling-back-services-at-invoice-finance-company-eliant
- Author: PYMNTS
- Published: 2026-09-14T00:09:04+00:00
- Read time: 1 min
- Topics: trade finance, apollo, supply chain, fintech, lending, business, finance
## 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%.
## Key takeaway

Trade finance is retreating where the collateral is hardest to see, and that retreat is opening the door for FinTechs.