Fintech Meets Industrial E-Commerce with a Partnership To Transform Procurement in the Middle East

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Interfield Global Software Inc. (CBOE:IFSS) announced that their subsidiary, Interfield Software Solutions LLC, has signed a memorandum of understanding (MOU) with fintech company Abhi, dated November 15, 2024. The collaboration seeks to integrate Interfield's Equipment Hound platform with Abhi's financial solutions to deliver an enhanced suite of services to clients across the UAE, Saudi Arabia, and the broader Middle East region.

Equipment Hound is an online marketplace specializing in industrial equipment procurement, while Abhi offers financial tools such as invoice factoring and salary advances. This partnership aims to streamline procurement processes and provide innovative financial support to businesses. The companies plan to market the integrated solutions jointly. This approach looks to leverage each other's technological capabilities.

Omair Ansari, CEO and co-founder of Abhi, highlighted the strategic value of this partnership in the press release, "By integrating our solutions with Interfield's cutting-edge procurement platform, we are paving the way for a comprehensive service ecosystem that drives operational efficiency and growth."

Steele Hemmerich, President of Interfield, echoed the sentiment, stating, "Together with Abhi, we aim to provide our clients with unparalleled access to both top-tier equipment and financial resources, strengthening their ability to succeed in today's competitive marketplace."

The integration process will commence immediately upon the finalization of a binding definitive agreement. The enhanced platform is expected to roll out in the coming months. 

Why Industrial E-Commerce and Fintech?

The industrial e-commerce sector has grown steadily throughout 2024 as it integrates advanced technological solutions into traditional industrial operations. According to GlobeSt, in October 2024, the sector was buoyed by a rebound in e-commerce sales. With growth of 6.7% year-over-year in the second quarter, the market has seen a strong demand for warehouse and storage spaces. E-commerce fulfillment, requiring three times as much industrial space as traditional retail, was noted as a primary driver of industrial real estate activity. This, in turn, provides opportunities for platforms that enhance procurement and operational efficiency.

On November 7, Exploding Topics highlighted the overall growth of the global fintech market. Valued at US$209.7 billion and projected to grow at a compound annual growth rate (CAGR) of 25.18%, the market has been predicted to reach US$644.6 billion by 2029. The report emphasized the increasing adoption of digital solutions across industries. These include procurement platforms for integrating financial services to address evolving business demands.

In a report from Fintech Futures on November 15, it was noted that regulatory changes and technological advancements continued to drive innovation within fintech, with open banking and AI-powered solutions becoming critical enablers for operational efficiencies. These developments directly supported the industrial e-commerce sector's need for integrated platforms to manage procurement, lifecycle maintenance, and financial optimization effectively.

Fast Company, on November 19, reported that emerging fintech innovations played a pivotal role in creating streamlined ecosystems for business operations. That includes tools for procurement and financial management. These advancements enabled businesses to improve efficiency and access critical resources, aligning with the industrial e-commerce sector's goals of optimizing supply chains and leveraging technology to address operational constraints.

The Driving Forces Behind Interfield Global Software

According to Interfield's investor presentation, the company's focus on creating a comprehensive procurement ecosystem positions it as a key player in a US$500 billion target market for industrial equipment. Equipment Hound's business model combines e-commerce and data-driven solutions, providing an end-to-end procurement platform that includes tools for lifecycle maintenance, ESG tracking, and AI-driven optimization.

The integration with Abhi aligns with Interfield's strategy to expand its client base and add value through enhanced financial solutions. As detailed in the presentation, Interfield has significantly grown its equipment supply from US$500,000 in 2021 to over US$300 million in 2023. The company projects these numbers to reach US$500 million in 2024. Additionally, Interfield has seen substantial growth in registered users and plans to close sales from its robust pipeline.

With the integration of Abhi's financial tools, Interfield could strengthen its competitive edge in multiple industries. Those industries encompass oil and gas, mining, and construction while further capitalizing on its scalable revenue model. The partnership also enhances Interfield's ability to attract blue-chip clients and provide a seamless digital ecosystem for procurement and financial services.

Ownership and Share Structure

According to Refinitiv, Interfield Global Software Inc. (IFSS) has a total of 108,453,698 outstanding shares. Management and Insiders own 68% of these shares, indicating significant insider ownership. The remaining shares are held by the public, comprising the company's free float.

Interfield Global Software Inc. went public on the NEO Exchange in February 2023. Since its initial public offering, the stock has traded between US$0.25 and US$1.50 per share. The company's market capitalization is approximately US$27.1 million.