The round includes USD 40 million in equity funding led by San Francisco-based TI Platform with participation from existing backers including Accel, Sequoia Capital and Wing VC. It also obtained USD 135 million in debt facilities from Barclays Investment Bank and East West Bank, bringing the total funds raised to date to USD 525 million.
The company plans to work with the likes of shipping lines, payment processors and insurers to help companies conduct international business. The startup uses machine learning and cloud technology to make creditworthiness decisions and help companies obtain working capital. Its algorithms factor in information such as customs and tax data as well as shipping line manifests. It also aggregates data from credit rating providers and insurers.
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