Trade Finance Case Study – Nuwave Channel Partners
Newable's trade finance solution helps travel retail brand; Nuwave to thrive.
Established over 10 years ago; Nuwave Channel Partners is a travel retail brand that was founded and headquartered in London, UK, with international operations in Netherlands, China and Hong Kong.
Nuwave Channel Partners has conceptualised, designed and manufactured quality products since 2011, in partnership with their clients, for the travel retail market.
Their products can be found in airport stores across 3 continents: Europe, Asia & South America.
Then the pandemic hit
The business was growing exponentially, with demand for its products continuously increasing, until the pandemic hit – and travel restrictions brought everything to an abrupt halt.
But that didn’t stop Nuwave from innovating. During this lull in business, which ended up spanning two years, the business focused on their product range and created a strategy for when the business does bounce back, which they were confident it would.
The team developed a completely new product range offering eco-friendly products made from recycled, upcycled & plant-based materials, reducing the business’ use of plastic by around 5 tonnes a year.
Their new sustainable offering appealed to a whole new market, so when travel restrictions were lifted last summer – Nuwave were overwhelmed with orders.
Unfortunately, despite being inundated with orders, the business didn’t have the working capital to fulfil them right away.
How we helped
Initially a client of Newable adviser, Nghia Tran, the team were looking to raise funds and had already tried a number of different funding options, to no avail.
Nghia then suggested Newable’s export trade finance solution, which Nuwave were eligible for as an exporting business.
The business was referred to the export finance team who immediately started the process for Nuwave.
It was a quick, easy application process and Nuwave managed to secure the full amount of £100k.
Getting the finance was a huge lifeline, and will generate a substantial amount of business – it was a massive stepping stone for our business’s recovery this year.
– Hoj Parmar, CEO & Founder of Nuwave Channel Partners
The funds went into use almost straight away for production runs and is expected to generate a substantial amount of business for Nuwave.
About export trade finance
Newable has spent the last decade advising UK businesses on how to secure export wins. Our finance product is one of the only trade finance products built for smaller businesses.
It is designed to be a quicker and more flexible alternative to traditional trade finance or export finance products.