Seaport Global Holdings LLC (Seaport) announced it has completed the spinoff of its structured trade finance unit. The new entity, Raistone Capital LLC (Raistone), will be based in New York City and will continue its strategic relationship with its affiliate, Seaport Global Securities, a full service investment bank and broker dealer.
Via access to both bank and non-bank capital, Raistone is broadening access to structured trade finance, offering accounts payable and accounts receivable trade finance solutions ranging from $50,000 – $300 million to:
- Banks, allowing them to improve profitability and continue to serve their clients by accessing risk capital across a wider credit spectrum, uncorrelated to Basel III.
- Fintechs, allowing electronic networks which connect large corporates and their suppliers to rapidly offer state-of-the-art working capital and trade finance solutions to their users.
- Suppliers, allowing them, independent of their customer, to cost effectively receive up to a 100% advance rate against receivables, purchase orders or inventory.
- Corporates, by addressing both sides of the balance sheet – accounts receivable and accounts payable – to reduce risk, optimize the balance sheet, improve Day Sales Outstanding and improve Days Payable Outstanding.
“As Basel III, and the impact that it had on the banking industry began to take hold, we recognized the market opportunity and created a division focused on leveraging Seaport’s network of over 3000 institutional trading counterparties to introduce non-bank capital to the trade finance industry. With this spin-off, Raistone will leverage their leading-edge services and technology to capture a significant portion of this nearly $2 trillion global industry,” said Jack Mascone, Head of Debt Capital Markets at Seaport.
“With the launch of Raistone, we couldn’t be more excited to deliver meaningful change to how structured trade finance is transacted. By utilizing the capital markets to complement bank capital, we have created flexibility and reduced the friction corporates and their supply chain experience when accessing capital,” said Dave Skirzenski, CEO of Raistone. “While we’ll be independent, our relationship with Seaport remains strong and will help us deliver value to businesses and their partners up and down the supply chain.”
“With this spin-off, Raistone will leverage their leading-edge services and technology to capture a significant portion of this nearly $2 trillion global industry.”
Raistone will be led by Dave Skirzenski, an industry veteran with more than 20 years of experience building and operating fintechs around the world. The remainder of the leadership team, Wayne Domnitz, Brian Fox, Avi Nainani, Matt McAlpine and Mike Bruynesteyn, have extensive experience in the investment banking, fintech and technology industries working with start-ups as well as Fortune 500 companies such as Citibank, Ariba, Deutsche Bank, MetLife, CIT and Turner Construction.
For more information about Raistone Capital, visit raistonecapital.com.
ABOUT SEAPORT GLOBAL
Seaport Global Securities LLC (seaportglobal.com) is a full-service investment bank that offers investment banking, capital markets, financial advisory, sales, trading and research services. Headquartered in New York with offices across the U.S. and in Europe, Seaport Global pairs its extensive knowledge and relationships in the Energy, Industrials, Materials, Transportation and Healthcare industries, with a large platform of equity and fixed income sales, trading and research. The firm’s forward-thinking practitioners, backed by decades of experience, focus on meeting clients’ goals in all business and economic cycles. Visit seaportglobal.com to learn more.
ABOUT RAISTONE CAPITAL
Raistone Capital’s (raistonecapital.com) mission is to democratize access to the capital markets – enabling companies across sectors to secure financing to drive growth and achieve their vision. Its products include invoiceXcel – an online supply chain finance, receivables financing and pre-shipment financing platform – as well as a suite of Finance as a Service offerings focused on enabling banks and fintechs to offer sophisticated trade finance solutions to a broad array of their customers.