Alibaba enlists startups to provide UK trade financing

Alibaba Group Holding Ltd has enlisted two UK startups to provide financing for small British businesses looking to buy from Chinese suppliers, aiming to help cash-strapped firms access the world's largest economy. The partnerships with iwoca Ltd and ezbob announced by Alibaba on Wednesday are a first for the Chinese company in Europe, and are intended to provide short-term working capital to businesses that otherwise would have trouble securing funds from banks. "We want to make finan