TISG chooses UniCredit Factoring to further support its supply chain

The Italian Sea Group S.p.A. , global operator in luxury yachting, signed an agreement with UniCredit Factoring, Company of the UniCredit Group specialised in offering factoring products and services. The agreement is aimed at supporting the companies in its supply chain.

With UniCredit Factoring, TISG had already launched a Supply Chain Finance program based on reverse factoring, involving 11 strategic suppliers. This will be joined by the UFactor Confirming solution, a service supplied through a digital system. In addition to operational and process advantages, this instrument will allow to support the liquidity of TISG’s suppliers, mainly represented by highly specialised artisanal companies.

The agreement aims to increase the number of suppliers having access to the program, with the objective to generate a virtuous cycle, thus benefitting all parties involved. Giovanni Costantino, Founder & CEO of The Italian Sea Group, commented: “Fostering the supply chain is one of the main drivers of our ESG strategy. Thanks to this agreement with an esteemed partner such as UniCredit Factoring, we are glad to keep supporting our suppliers, granting them better liquidity and solid business”.

Daniela Ferrari, CEO of UniCredit Factoring, stated: “We have been partnering with TISG for years and it is a source of pride for us to expand this collaboration, supporting them in their journey to take care of their supply chain also due to the employment of innovative solutions, which allow to establish and strengthen long-lasting relationships to benefit all parties involved”.