Circular in Motion and Coface join forces

Circular in Motion® (Cirinmo), the digital circular economy platform partners with Coface, a leader in trade credit insurance, to bring online extensive international credit insurance reporting and coverage to customers.

The global partnership with Coface provides Cirinmo’s customers, sellers and buyers of recycled and renewable raw materials an additional security to their online transactions. Users will receive information on the creditworthiness and solvency of potential partners in advance. Coface’s iCON solution provides insights on companies in 200 countries. Xolv, a provider of capital financing and credit management helped the two companies find each other.

We are enthusiastic and privileged for having been selected as the first digital marketplace to implement Coface’s iCON solution. The online credit reports will bring our customers more security in their transactions and help them expand their existing client base without financial risk. We will get one step closer to the digital transformation of the circular economy”, says Leila Oksanen, Cirinmo’s Chief Commercial Officer.

“Coface is proud to be part of this partnership promoting sustainable economy. As one of the world’s largest credit insurers, we take social responsibility seriously. We advise our clients on companies’ creditworthiness, but their sustainable promises should also be considered. By joining forces, we can now better map out which companies are truly sustainable and financially reliable”, says Monique Busch, Director Operations & Services of Coface.

About Circular in Motion®

Cirinmo® is an open e-commerce platform where material, digital expertise and environmental values are combined to make circular economy a reality. The platform for certified renewable and recycled content materials is built on open blockchain technology, which brings transparency into circular economy with proof of origin and digital certificates of the materials.

About Coface

With 75 years of experience and the most extensive international network, Coface is a leader in trade credit insurance and adjacent specialty services, including Factoring, Debt Collection, Single Risk insurance, Bonding and Information services. Coface helps companies in their credit decisions. The Group’s services and solutions strengthen their ability to sell by protecting them against the risks of non-payment in their domestic and export markets. In 2020, Coface employed ~4,450 people and registered a turnover of €1.45 billion.

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