Allianz Trade in Asia Pacific inks first B2B e-commerce partnership

Empowering e-merchants to offer B2B BNPL payment option in real-time

HONG KONG,April 4,2023 -- Allianz Trade in Asia Pacific is pleased to announce its venture into the rapidly growing B2B e-commerce space and has secured the first partnership with Singapore-based B2B Buy-Now-Pay-Later (BNPL) player Bueno.money. Through the credit insurer's innovative credit solution E-commerce Credit Insurance,Bueno.money is able to offer deferred payment solution to e-merchants in real-time with credit risks protected.

Allianz Trade in Asia Pacific inks first B2B e-commerce partnership with Singapore-based Bueno.money

The global B2B e-commerce market is already six times larger than that of B2C. In Asia Pacific,it is projected to grow at a compound annual growth rate (CAGR) of 22% until 2030[1]. While 95% of B2B online buyers prefer paying on credit terms just as they would buy offline,less than 10% of e-merchants offer such option. Innovative payment options such as BNPL are now a key differentiator for e-merchants and marketplaces.

While Allianz Trade is the world's largest trade credit insurer with over 120 years of credit and risk management experience,Bueno.money is a BNPL B2B player that integrates directly on e-merchant's website. Powered by this partnership,once an online shopper visits the e-merchant's website,a pop-up will appear to offer a 60-day interest-free credit line application with the approval process takes no longer than 30 seconds. Once approved,the shopper will be free to shop within the credit line and pay at a later stage,while the e-merchant will receive payment upfront from Bueno.money with credit risks underwritten by Allianz Trade.

Speaking on this partnership,Paul Flanagan,Regional CEO of Allianz Trade in Asia Pacific, says,"Supporting the rapidly growing B2B e-commerce space is an integral part of our growth strategy. Striking this partnership with Bueno.money,we are just as excited for launching this specialty line of business in which we see tremendous potential as global trade continues to progress. With BNPL payment option becoming a must for e-merchants,they will benefit even more from our E-commerce Credit Insurance through attracting more customers from different markets. At Allianz Trade,we have combined our hundred years of expertise in B2B risk assessment and the latest API technology to provide the best solution in the market."

Iman Aqas,CEO of Bueno.money,says,"We are very excited to be partnering with Allianz Trade,a collaboration that signifies a vital step for Bueno.money,our customers,and the B2B invoicing industry. Together,we aim to address the challenges of private credit terms and provide businesses with the tools they need to confidently manage the ever-growing demand for flexibility in B2B commerce. Our partnership is essential in building Bueno's vision of developing a holistic invoicing ecosystem,allowing businesses to finance and insure their invoices,outsource payment chasing and collections,and make informed decisions based on aggregated data. By combining Allianz Trade's insurance expertise with our innovative invoice financing platform,we are transforming the way businesses manage their finances and providing them with greater flexibility and convenience."

About Allianz Trade

Allianz Trade is the global leader in trade credit insurance and a recognized specialist in the areas of surety,collections,structured trade credit and political risk. Our proprietary intelligence network analyses daily changes in +80 million corporates solvency. We give companies the confidence to trade by securing their payments. We compensate your company in the event of a bad debt,but more importantly,we help you avoid bad debt in the first place. Whenever we provide trade credit insurance or other finance solutions,our priority is predictive protection. But,when the unexpected arrives,our AA credit rating means we have the resources,backed by Allianz to provide compensation to maintain your business. Headquartered in Paris,Allianz Trade is present in 52countries with 5,500 employees. In 2022,our consolidated turnover was EUR3.3 billion and insured global business transactions represented EUR1,057 billion in exposure. For more information,please visit allianz-trade.com

About Bueno.money

Bueno.money is a platform that offers embedded invoice financing for B2B e-commerce,enabling businesses to finance their invoices in under 30 seconds,instead of 3 days. Bueno integrates directly on the seller's website or with regular invoicing processes,providing a seamless experience for B2B trade.For more information,please visit https://bueno.money/

Allianz Trade contact

Jason Wong

+852 3665 8946

jason.wong@allianz-trade.com

Bueno.money contact

Iman Aqas

+65 8425 9226

ia@bueno.money

Cautionary note regarding forward-looking statements

The statements contained herein may include prospects,statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results,performance or events may differ materially from those expressed or implied in such forward-looking statements. Such deviations may arise due to,without limitation,(I) changes of the general economic conditions and competitive situation,particularly in the Allianz Group's core business and core markets,(II) performance of financial markets (particularly market volatility,liquidity and credit events),(III) frequency and severity of insured loss events,including from natural catastrophes,and the development of loss expenses,(IV) mortality and morbidity levels and trends,(V) persistency levels,(VI) particularly in the banking business,the extent of credit defaults,(VII) interest rate levels,(VIII) currency exchange rates including the euro/US-dollar exchange rate,(IX) changes in laws and regulations,including tax regulations,(X) the impact of acquisitions,including related integration issues,and reorganization measures,and (XI) general competitive factors,in each case on a local,regional,national and/or global basis. Many of these factors may be more likely to occur,or more pronounced,as a result of terrorist activities and their consequences.

[1]https://inkwoodresearch.com/reports/asia-pacific-b2b-ecommerce-market/