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Supply@Me Capital PLC on Thursday noted that new Italian legistlation has come into effect, introducing ‘security interest’ to the country. The London-based fintech platform said the new legislation will provide Italian banks with greater opportunities to adopt its Supply@Me platform for use under white label agreements. The regulation allows businesses to create a security on a moveable asset without the need to grant permission to the creditor. Chief Executive Alessandro Zamboni said: ‘The Pegno Non Possessorio legislation provides greater security for funders seeking to monetise or finance inventories in Italy. Its long-awaited implementation allows for much needed working capital solutions for businesses. It also strengthens our proposition as inventory scientists, particularly for traditional funders.’ ‘Supply@ME has anticipated the legislation coming into effect for some time and we are the first player in the market to leverage it for an inventory monetisation transaction.’ Supply@Me shares were down 0.7% at 0.14 pence each in London on Thursday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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