Santander and Pemberton Asset Management have announced plans to launch Invensa, a new company providing large-scale inventory finance and management solutions.
The Invensa platform will draw on Santander’s experience in providing trade finance facilities and Pemberton’s expertise in non-bank working capital, the duo say in a joint announcement.
The project remains subject to regulatory approvals, but GTR understands the companies are hoping to launch the platform as soon as January 2025. Invensa is expected to be led on an interim basis by Oren Bass, Pemberton’s head of working capital finance, sources say.
The result of a strategic partnership between the two institutions, Invensa’s unveiling comes as supply chain resilience is increasingly seen as “business critical” for multinational companies, they say.
At the same time, a shift from “just-in-time” to “just-in-case” supply chain models has meant corporates are under greater pressure to manage inventory efficiently. The duo say the inventory solutions market is believed to be worth US$1tn and growing.
“In the wake of growing supply chain disruptions in recent years, triggered by events such as the pandemic, geopolitical tensions and a changing macroeconomic environment, companies of all sizes are increasingly focused on ensuring greater resiliency in the supply of key goods and raw materials,” the joint announcement says.
Jose Linares, Santander’s senior executive vice-president and global head of Santander CIB, says 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”.
Linares adds the bank has been facilitating third-party inventory finance solutions for over a decade, and the launch of Invensa underlines its commitment as a “long-term partner” to clients.
Pemberton chief executive Symon Drake-Brockman says: “The combined offering strategically positions us to deliver innovative inventory management solutions that address the evolving needs of companies and their supply chains worldwide.”
