Fits Cargo Partners with NBD Ventures T&T Opportunity Fund to Advance Settle Cargo Payments
28 September 2023: Fits Cargo and NBD Ventures T&T Opportunity Fund (“NBD T&T Fund”) announce their strategic partnership where Fits Cargo will engage NBD T&T Fund to process its air freight transactions and accelerate payments across multiple jurisdictions helping the carrier address slowed down cash settlements experienced through international air cargo settlement systems.
Musaab Kassim, Director at Fits Cargo added, “The solution proposed by NBD T&T Fund is cost effective and integrates seamlessly with our processes and operating needs. Importantly, instead of receiving funds up to several weeks later, NBD T&T Fund will settle cash from cargo sales within days allowing us to more efficiently deploy capital within our business. The team at NBD Ventures have proven to be creative problem solvers and have made it very easy for my team and will benefit our business greatly. I highly recommend Evan and his team to any carrier seeking to solve cargo payment delays.”
Evan Lau, Partner at NBD Ventures said, “We are very pleased to partner with Musaab and the team at Fits Cargo to create an investment grade entry point for global investors and financial institutions seeking exposure to the travel and transport sector. NBD T&T Fund combines cutting-edge payment technology with tried and tested investment structures, to deliver a new solution to an age-old challenge. As the travel and transportation industries navigate highly dynamic operating conditions, we are excited to be able to innovate and help solve global and complex issues. We are committed to continuing our support of sustainable growth in strategic global industries whilst enabling businesses to do more and go further with their capital.”
(left) Musaab Kassim, Director at Fits Cargo
(right) John Caliguri, Partner at NBD Ventures T&T Opportunity Fund
About Fits (www.fitscargo.com)
Fits cargo is a portfolio company of Aberdeen Holdings and provides air cargo solutions with its own fleet supported by FitsAir and through a network of over 150 partner carriers which maximizes its outreach.
About NBD Ventures (www.nbdfunds.com)
NBD Ventures T&T Opportunity Fund SCS (NBD T&T Fund) is an Alternative Investment Fund registered in Luxembourg. NBD Ventures Management S.àr.l. (NBD Fund Manager) is a registered Alternative Investment Fund Manager with the Commission de Surveillance du Secteur Financier. NBD T&T Fund provides payment liquidity to the travel and transport sector by processing and accelerating settlement of funds from ticket and cargo sales across 160 countries in more than 120 currencies. NBD T&T Fund partners with global banks, financial institutions, strategic multinationals, family offices, high net worth investors and fintech.