Mesh Korea (CEO Yoo Jeong-beom), which operates an IT-based comprehensive distribution and logistics brand "Vureung," announced on the 29th that it has signed a memorandum of understanding (MOU) with fintech company FinTOB to jointly develop a supply chain finance business model.

Supply Chain Finance (SCF) is a financial service for small and medium-sized enterprises or small business owners to raise stable working funds. In the past, discounts on electronic bills and mortgage loans on accounts receivable were used, but recently, the method of providing funds in the form of fintech that combines new financial channels and technologies such as P2P platforms and big data analysis has attracted attention.

Through this business agreement, Mesh Korea and Pintob will jointly develop new supply chain finance business models and processes. Mesh Korea, in particular, will play a role in the collateral management sector by helping to find targets for supply chain finance among 350 corporate customers and 66,000 self-employed customers nationwide. Pintob, which has provided supply chain finance to SMEs by providing platform services to domestic and foreign financial institutions, will focus its efforts on attracting major financial institutions to participate in the business while leading the development and operation of supply chain finance systems.