Stenn International Ltd., a UK-based international trade finance provider and Cross Border Funding, LLC, a Los Angeles trade finance brokerage and advisory group announced that they have signed a definitive merger agreement under which Cross Border Funding will merge into Stenn International.

Cross Border Funding works primarily with exporters, manufacturers and distributors in the U.S., Asia and Latin America to structure trade finance programs such as factoring and supply chain finance. Based in Los Angeles, with representatives in China and India, the firm specializes in new client acquisition through marketing strategies and cultivating referral relationships.  

“We aspire to have Stenn evolve into the leading provider of trade finance for SMEs selling into developed markets and to become the go-to resource for U.S. buyers needing supply chain finance,” said Greg Karpovsky, Executive Chairman, Stenn International. “The acquisition of Cross Border Funding will accelerate our progress across these priorities.”

Last year Stenn secured an additional $300 million investment from Crayhill Capital Management LP, an established alternative asset management firm based in New York, expanding their capacity to provide much-needed trade financing options for manufacturers in Asia with buyers in developed markets.

“We are pleased to welcome Cross Border Funding Co-Founder Bryan Maloney and the team to Stenn,” said Walter Colebatch, CEO, Stenn International. “This is an important step toward our expansion into the U.S. market, beginning with the opening of a Los Angeles office this year.”

Stenn’s founding professionals have a successful track record in the business, having originated and funded more than $12 billion in receivables in their former business, the largest receivable finance company in Eastern Europe.