The Rise and Fall of Stenn: How a $900 Million UK Trade Giant Collapsed Overnight (Business Opportunities - Other Business Ads)
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The Rise and Fall of Stenn: How a $900 Million UK Trade Giant Collapsed Overnight | |
Stenn, a UK-based fintech once valued at $900 million and backed by major banks and private equity firms, collapsed in a matter of years, raising critical questions about the sustainability of the trade finance model, regulatory oversight, and the risks of high-profile financial ventures. The company’s rapid downfall stemmed from allegations of money laundering, suspicious transactions, and dealings with high-risk customers. Stenn’s story serves as a stark reminder for anyone in fintech, trade finance, or any sector handling large sums and complex transactions. In this blog, we’ll explore Stenn’s rise, the factors behind its collapse, and its broader impact on the industry. Founded in 2015 by Greg Karpovsky, Stenn aimed to disrupt trade finance by using technology to offer faster invoice financing solutions to small businesses. The company purchased invoices from smaller suppliers and secured payments from larger corporations, modernising this age-old practice with advanced technology to assess credit risks and speed up payments. Stenn quickly attracted significant investments from Citigroup, Barclays, HSBC, and Centerbridge Partners. Valued at $900 million in 2022, the company even considered an IPO. However, red flags emerged behind its ambitious model and robust backing, leading to its eventual collapse. | |
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| Target Nation: All Nations Target City : Norwich Last Update : 19 March 2025 6:51 AM Number of Views: 6 | Item Owner : Jamie Playford Contact Email: Contact Phone: 08002461845 |
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2025-03-26 (0.566 sec)