Santander Corporate & Investment Banking (Santander CIB) and Pemberton Asset Management have announced a partnership to launch a new company, Invensa.
Invensa is focused on providing supply chain inventory solutions to support large and mid-sized corporates in building resilient supply chains.
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The launch, which targets a “$1tn and growing” industry, is pending regulatory approvals.
In recent years, supply chain disruptions have been exacerbated by events such as the pandemic, geopolitical tensions, and a changing macroeconomic environment, Santander CIB noted.
These challenges have prompted companies to prioritise the resilience of their supply chains, ensuring a steady supply of key goods and raw materials.
Invensa will leverage Santander’s expertise in trade finance and Pemberton’s proficiency in non-bank working capital solutions.
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By GlobalDataThe company aims to support the transition from “just-in-time” to “just-in-case” supply chain models, offering operationally efficient, flexible inventory financing and management on a large scale.
Santander CIB global head and Santander senior executive vice president Jose Linares said: ”As a leading bank in the trade and working capital space, it is important for us to be able to offer the full range of solutions to manage the end-to-end working capital of our clients of which inventory is a very relevant part.
“We have been facilitating third-party leading inventory finance solutions to our clients for more than ten years and this partnership with Pemberton enables us to serve our clients as a long-term partner and deliver an increasingly business-critical solution.”
Pemberton CEO Symon Drake-Brockman said: “The partnership between Santander CIB and Pemberton brings together two firms at the vanguard of their respective markets.
“The combined offering strategically positions us to deliver innovative inventory management solutions that address the evolving needs of companies and their supply chains worldwide.”
In a separate development, Compass Box, an independent brand known for its blended Scotch Whisky, secured a £35m ($45.6m) lending facility in October from Santander UK.
The asset-backed lending package aimed to enable the whisky business to invest in stock quality and warehousing, supporting its growth.
