Tagged: trade finance

Trade Finance Fintech Taulia Raises $60 Million Backed by JPMorgan, Ping An, Saudi Aramco

Taulia, a top supply chain financing Fintech is raising $60 million, according to the company. Big-name investors are participating in the round including JPMorgan, Ping An, Saudi Aramco, and existing investors including Zouk Capital. CEO of Taulia, Cedric Bru said the funding round is a… Read More

UK Fintech Stenn, a Trade Financing Solution Provider, Extends its Core Finance Program After Receiving Investments from Barclays, Others

Stenn, an online trade finance scale-up, has acquired investments from Barclays Bank, Coface SA, and Crayhill Capital Management LP via its latest funding round. The capital raised will be used to support Stenn’s trade financing program, Stenn Assets Funding, which is currently valued at $500… Read More

Russia: Blockchain Trade Finance Platform Factorin Reports $500+ Million in Turnover in First Year

Factorin, a trade finance platform using blockchain, reports that it has “transformed” the trade finance market in Russia in one year since launch. According to a company release, Factorin has garnered relationships with 30 different banking entities, processed 246,000 invoices with transactional turnover exceeding $500… Read More

Alibaba Adds Freight Service, Includes Trade Financing Solution as Part of the Package

Alibaba (NYSE:BABA), one of the largest tech firms in the world, has announced a new shipping service that includes a trade financing option. The financing is provided in partnership with MTS a Fintech that offers “credit as a service.” Alibaba Freight seeks to engage with… Read More

New York-based IBM Acquires 7% Stake in Blockchain enabled Trade Finance Solution, we.trade

New York-based tech giant IBM (NYSE:IBM) has acquired a 7% stake in we.trade, a blockchain-enabled trade finance platform that’s owned by 12 major banking institutions. Launched by nine banks back in January 2017 under the name, Digital Trade Chain, the platform was renamed as we.trade… Read More

Digital Trade Finance Solution Developer Surecomp to Allow Select Customers to Test its New API Architecture

Surecomp, an established provider of international trade finance software for banks and corporations, will allow a select group of clients to use and test its Application Programming Interfaces (API) architecture. According to a release, the newly developed API architecture has been created to work with… Read More

Fintech Taulia Officially Announces Partnership with JPMorgan to Provide Trade Finance Solution

Taulia has officially announced a strategic alliance with the largest US Bank JPMorgan (NYSE:JPM). According to a release, the partnership is said to create a unique trade finance solution for JPM clients. Crowdfund Insider covered the partnership this past weekend. Going forward, JPMorgan’s clients will… Read More

Citi Increases Equity Stake in komgo, an Ethereum-powered Enterprise Blockchain Platform for Trade Financing

New York-based Citi, an American multinational investment bank and financial services corporation with over $1.9 trillion in total assets, has reportedly increased its equity stake in komgo, a company that’s developing an Ethereum (ETH)-powered enterprise blockchain platform for trade financing. Citi confirmed that it began… Read More

HSBC Partners with Chinese Logistics Firm Cainiao to Offer Faster Trade Finance Loans via Alibaba’s Tmall Platform

HSBC, a British multinational bank and financial services holding company with over $2.5 trillion in total assets, has teamed up with Cainiao, a China-based logistics company, in order to provide faster trade finance loans to merchants via Alibaba’s Tmall platform in Hong Kong. HSBC will… Read More

Digital Trade Finance: Singapore’s DBS Bank Facilitates Transaction via vCargo Cloud’s CamelONE Portal

Singapore-headquartered DBS Bank, a multinational banking and financial services corporation with over $330 billion in total assets, has reportedly facilitated a trade financing settlement through vCargo Cloud’s CamelONE trade finance portal (TFP). The SGD 4.8 million (appr. $3.4 million) letter of credit transaction was carried… Read More

Banco Santander Acquires Majority Stake in Spanish Fintech Mercury TFS

Banco Santander, S.A. (BME:SAN) announced on Friday it has acquired the majority stake in Mercury TFS, a Spain-based company that specializes in software solutions that automate the end-to-end management of trade finance transactions for corporate customers, for €30 million. According to Banco Santander, the transaction… Read More

People’s Bank of China Acquires $4.7 Million in Funding to Further Develop Blockchain-based Trade Finance Platform

The People’s Bank of China (PBoC) has reportedly acquired 32.35 million RMB (appr. $4.7 million) in special funding in order to finance the ongoing development of its blockchain or distributed ledger technology (DLT)-enabled trade finance platform. The funding, which will be gradually injected during a… Read More

Standard Chartered Joins TradeLens, a Leading Blockchain-based Supply Chain Management Solution Developed by IBM, Maersk

London-headquartered Standard Chartered, a British multinational banking and financial services company with over $700 billion in total assets, has reportedly become the first major financial institution to join TradeLens, blockchain-powered container logistics solution created by IBM and Maersk. Standard Chartered is notably the first financial… Read More

Digital Trade Finance: Giant Banking Group, Emirates NBD, Uses Fintech LiquidX’s Network to Sell Commodities 

New York-headquartered LiquidX, a globally accessible network for illiquid assets, recently revealed that it has added Emirates NBD to its network. Emirates NBD is a Dubai government-owned banking institution and one of the largest financial institutions in the Middle East in terms of total assets… Read More

International Chamber of Commerce Introduces Digital Trade Standards Initiative, Will Promote Blockchain or DLT Interoperability

The International Chamber of Commerce (ICC) has introduced the Digital Trade Standards Initiative (DSI), which is a collaborative cross-industry project that will aim to develop standards and best practices for conducting digital trade. The ICC Digital Trade Standards Initiative will continue to build on the… Read More

Tom Trowbridge: President at Triterras, a Blockchain-based Fintech for Trade Finance, Explains Motivation Behind New Project After Leaving Hedera Hashgraph

Tom Trowbridge, former president at Hedera Hashgraph and current president at Triterras, a blockchain-powered Fintech solution for the trade finance sector, recently shared his views and insights with Crowdfund Insider. Triterras was established in 2012 in order to meet the rising demand for commodities that… Read More

How to Overcome the Challenges Funders Face in 2020

In my former life as an investment banker I didn’t really pay the world of Fintech much heed. In my mind, Fintechs were the reserve of tech-savvy millennials or early adopters and not something for a Generation X Luddite to pay much attention to. Even… Read More

Singapore Banking Group DBS Completes First Digital Trade Financing Settlement, Performed on New Network Trade Platform

Singapore banking group DBS has reportedly completed the first all-digital trade financing settlement, which was conducted on the country’s newly developed Network Trade Platform (NTP). The platform is blockchain-based but NTP appears to go out of its way not to focus on the technology and… Read More

Blockchain-based Supply Chain and Trade Finance Firm, Envoy Group, Acquires $13 Million in Funding

Blockchain-enabled supply chain and trade finance firm Envoy Group is reportedly planning to expand its operations beyond Latin America. This, after recently acquiring $13 million in funding from Alcedo Digital Ventures. Developed on R3’s Corda platform, Envoy aims to enhance the existing $17 trillion annual… Read More

Tradeteq CFO on European Companies Opening Offices in UK Post Brexit: The Outlook for UK Finance and Fintech is Positive

Last week, Crowdfund Insider covered a report on the UK and how European financial services firms were being compelled to open new offices in light of Brexit. While a good amount of digital ink has covered the number of firms shuttering offices or lowering headcount… Read More

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