Apollo Scales Down Trade Finance Operations at Eliant

Global asset manager Apollo is reportedly winding down certain segments of its Eliant Trade Finance platform, a move that signals growing pains in the previously high-flying inventory financing market.

According to sources cited by Bloomberg News, Apollo’s decision impacts products focused on mid-market accounts receivable and supply-chain finance—services where companies purchase invoices or make supplier payments upfront. While these initiatives represent less than 10% of Eliant’s total assets, they highlight a shift in strategy for the venture.

Eliant was launched in 2022 by Apollo, its insurance subsidiary Athene, and BNP Paribas with an initial focus on providing inventory finance solutions to optimize supply chains. The partners touted Eliant’s ability to offer flexible capital while helping clients manage working capital more efficiently.

However, trade finance has faced increased scrutiny following recent high-profile failures, including First Brands last year. This has created a paradox where global trade volumes remain robust but financing these transactions safely is becoming more challenging—a gap that FinTechs are increasingly positioned to fill.

As geopolitical risks reshape supply chains and tariffs fluctuate rapidly, the need for agile trade finance solutions grows alongside the complexity. Research indicates U.S. small to medium-sized businesses (SMBs) expect 36% will use FinTechs for cross-border purchases this year—up from 30% in 2025—though traditional banks still maintain a dominant position.

The evolving trade finance landscape presents both challenges and opportunities as companies navigate increasing uncertainty while seeking efficient ways to manage global commerce.