Let’s Make a Trade Enabling Global Trade for SME’s
Hello everyone! We’re pleased to send along our March newsletter with the following highlights:
- Sales have grown 400% year over year
- Signed a US$8 million debt facility with Bedford Row Capital
- Finished the year 2021 with US$2.0 million in annual revenue
- Generated first quarter 2022 revenue of US$2.1 million
- Excited to announce the appointment of Bospar, our new PR agency in San Francisco
- Increased pipeline is now approximately US$18 million
2018 Revenue: US$ 295,558
2019 Revenue: US$ 604,740
2020 Revenue: US$ 1,575,218
2021 Revenue: US$ 1,957,738
2022 YTD Revenue: US$ 2,100,000 (Jan – March)
2022 Revenue: US$ 8,800,000 (forecast)
*Please note that Revenue numbers for all the above periods have been updated to reflect OCEAN’s transition to calendar year reporting [Jan.- Dec.]
Due to the growing conflict between Russia and Ukraine, Europe’s supply chain and leading economies are facing major disruptions. This issue is slowly affecting the rest of the world as well, as indicated by the rising fuel prices in more countries.
Supply chain disruptions are accelerating innovation and digital transformation according to the Globe street article. The Wired Article highlighting tech’s role in this ancient industry was quite interesting.
Ocean aims to be at the forefront of global supply chain finance innovation for SME’s by allowing them to address production finance, shipping, purchase order finance, import finance and supply chain finance all at the same time with just two innovative products.
CUSTOMER SPOTLIGHT – RIGORER
OCEAN invested in the distribution of sports apparel Rigorer in South East Asia. The brand was founded by Mr. Lin Chenyao, a former player with the Chinese Basketball Association. Rigorer cites a workforce of 1200 employees, 50 designers, 29 online stores and 50 physical stores, 300 distributors and approximately US$80 million in annual revenue.
OCEAN helps finance the China to Singapore supply chain for the company. We love investing in good quality businesses like Rigorer, especially where we can increase efficiency in the supply chain, grow their market and have a positive social impact.
PRODUCT & TECHNOLOGY POSITIONS
We’re hiring so please share these open positions with your network:
- Chief Marketing Officer
- Head of Sales
- Chief Operating officer with experience in Fintech or Logistics tech
- Digital partnerships director (US and UK) x2
- Head Of Engineering x 1
We plan to start Series A tech demos by July! So for an early sneak peek, please feel free to sign up for the Tech Demo here.
HOW CAN YOU HELP?
We are looking at:
- Strategic partnerships with Digital Banks, and platforms that deal with SME customers
- Businesses like Rigorer who could benefit from increased Working Capital flexibility, and breathing space to refocus their efforts on growing their business.
Thank you to everyone for your support and guidance thus far!
Vishal H. Kewalramani
PS: Please feel free to drop any time in my calendar here to catch up.