Trade finance distribution platform Tradeteq secures USD 6.3 mln

Thursday 19 July 2018 10:52 CET | News

Tradeteq, a UK-based trade finance distribution platform, has secured USD 6.3 million through its Seed Extension round, which was led by ADV.

Founded in 2016, Tradeteq provides a collaborative network for trade finance investors and originators to connect, interact, and transact. The company also delivers AI-powered credit analytics, reporting, investment, and operational solutions.

The global trade finance market is worth USD 12 trillion annually, which is largely managed by banks and currently isn’t an investable asset class for institutions. Tradeteq want(s) to change all that and so are bringing Artificial Intelligence to the market through a marketplace platform which should open up trade finance to a more diverse set of companies than traditional credit scoring models do, expanding the market and enabling institutions to provide capital to emergent and fast-growing SME/SMBs.

Funds from the Seed Extension round will be used to continue the company’s growth and expansion.

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Keywords: Tradete, trade finance, growth, expansion, Seed Extension, round
Countries: World