TradeIX raises USD 16 mln from ING Ventures

Monday 25 June 2018 10:42 CET | News

TradeIX, a blockchain startup, has raised USD 16 million in a Series A round led by ING Ventures, the venture capital arm of ING Bank.

Other investors in the round include Norwegian investment company Kistefos, BNP Paribas, and Tech Mahindra. Kistefos was a prior investor in TradeIX and increased its stake as part of the transaction. Founded in 2016, TradeIX is a UK-based API and blockchain powered company.

In June 2017, it launched TIX Platform, the first open blockchain-powered platform ‘TIX’ for trade finance, according to Econo Times. More recently, it launched the world’s first blockchain-enabled trade finance transaction for global logistics company DHL. The startup is also leading the Marco Polo initiative alongside R3.

TradeIX said that it will use the funding to boost hiring, further accelerate customer acquisition and to invest in the development of the company’s open platform for trade finance.

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Keywords: TradeIX, blockchain, trade finanace, funding, ING Ventures, R3, API, UK
Countries: World