Tagged: trade finance

DZ Bank Supports Collaborative Trade Finance with Surecomp’s RIVO

Surecomp recently announced that two financial institutions have subscribed to its newly launched RIVO platform “for collaborative trade finance.” DZ Bank is the first bank “to sign-up, alongside the leading provider of guarantee insurance in the Nordics.” Frankfurt-based DZ BANK – which also acts as… Read More

Trade Fintech Serai, Backed by HSBC, Closes its Doors

Serai, an HSBC-founded venture based in Hong Kong that offered a B2B supply-chain platform, has shut down. The move was foreshadowed in an executive change last month when Vivek Ramachandran, formerly CEO of Seria, was appointed as Head of Global Trade and Receivables Finance (GTRF)… Read More

Fintech Platform LiquidX Receives Investment from Citi

LiquidX, the global fintech platform for digitization, monetization, and risk mitigation for working capital, trade finance, and insurance assets, announced a strategic investment from Citi (NYSE: C), one of the largest trade finance banks. The funding round was “led by Broadridge, LiquidX’s largest strategic investor.”… Read More

Fintech Triterras Chooses Unqork to Enhance its Trade Finance Platform with No-Code Solutions

Triterras Inc., a Fintech company focused on trade and trade finance, and Unqork, the no-code enterprise application platform, recently announced that they have entered a partnership “to further digitize global trade finance.” Unqork will be used “to enhance the end-to-end trading lifecycle of Triterras’ Kratos… Read More

Societe Generale Introduces Accelerator for Startups Focused on Trade Finance, Cash Management

Societe Generale (GLE.PA) recently introduced its first acceleration program that’s dedicated to startups linked to Trade Finance, Cash Management, Factoring, and Cash Clearing & Correspondent Banking activities. The Group, a partner of many startups, is launching “a new call for projects to improve the customer… Read More

UK: Digital Finance Platform Stenn Valued At $900 Million, Raises $50 Million in Equity

Stenn, an SME financing platform based in the UK, has raised $50 million in equity at a $900 million valuation, according to the company. Stenn was founded in 2015 by Greg Karpovsky, who has more than 20 years’ experience in digital trade finance. Centerbridge, based… Read More

Societe Generale Extends Collaboration with Surecomp to Support Digital Trade Transformation

  Surecomp, which claims to be a market leader in international trade finance solutions for banking institutions and corporations, has confirmed that Societe Generale has now gone live with the latest version of its IMEX solution for back-office trade finance processing automation across four nations… Read More

Fishtail Attracts $4.5M for Trade Finance Platform

Fishtail announced today it has raised $4.5 million in seed funding, led by Thursday Ventures, with participation from Rackhouse Ventures, Amara Ventures, and project44 CEO Jett McCandless and chief growth officer Jason Duboe. “Trade finance has been an under-invested asset class for far too long,” said Fishtail CEO Marc Held…. Read More

Supply Chain Finance Firm Demica Reports $20 Billion of Funding

Trade and supply chain finance platform Demica is reporting a new milestone; more than $20 billion in funding outstanding. According to Demica, its relationships with top banks and corporates have fueled its rapid growth enabling it to capture a good percentage of the over $130… Read More

Banco Pichincha Selects Surecomp for Digital Trade Finance Processing

Surecomp has announced that Banco Pichincha – Ecuador’s financial institution with $4.5 billion in assets – has chosen its trade finance processing tech for front-to-back-office operations. The bank will deploy Surecomp’s Cloud-enabled Trade Finance-as-a-Service (TFaaS) solution “to support the growth of current and future trade… Read More

Dutch Banking Institution Rabobank Now Live with Surecomp Digital Trade Finance Solutions

Surecomp has announced that Rabobank, the second-largest Dutch banking institution, is now fully operational with its integrated back and front-office digital trade finance services DOKA-NG and allNETT. Rabobank has introduced one of its Marketplace partner services – the digital adoption platform Walkme™, which is reportedly… Read More

Trade Finance Platform Drip Capital Appoints Rahul Nath as New Product Head to Support Product Growth

Drip Capital, Inc., a digital cross-border trade finance platform providing financing solutions to small and medium businesses, is pleased to confirm that Rahul Nath has joined the firm’s leadership team as the Product Head. With head offices in Palo Alto, California, Rahul brings more than… Read More

Tradeteq Teams Up with Singapore’s eXchange inFintite or XinFin to Provide Tokenized Trade Finance

Tradeteq has teamed up with Singapore-headquartered eXchange inFinite (XinFin) to provide tokenized trade finance products to institutional investors and has carried out its very first transaction. This is reportedly the first complete end-to-end transaction “following a unique set of regulatory guidelines and trade finance standards,”… Read More

Cross-Border Trade Finance Provider Incomlend Boosts Factoring Solution

Incomlend, a global invoice financing marketplace and cross-border trade facilitator, has announced a new invoice financing program for a pan-European metal trading firm. Founded in Singapore and with offices around the world, Incomlend connects SMEs globally with communities of investors. This enables them to buy… Read More

MonetaGo Provides Solution to Address Duplicate Financing Fraud in Global Trade Finance Industry

MonetaGo, a Fintech-focused services provider, reveals that it has created a platform to address financing fraud in the trade finance sector on an international level. The trade finance industry has been impacted by duplicate financing fraud. In these types of cases, companies can acquire financing… Read More

MODIFI Raises $24 Million, Brings Valuation to $120 Million

MODIFI has raised $24 million in funding raising its valuation to $120 million, according to a company release. MODIFI is a global fintech company that helps SMEs finance and manage their international trades, currently serving over 1,000 buyers and sellers across more than 40 countries… Read More

Trade Finance Network Contour Partners Global Shipping Business Network to Offer All-Digital Trading, Financing, Shipping Solution

Online trade finance network Contour has teamed up with the Global Shipping Business Network (GSBN) in order to provide an all-digital solution for participants involved in trading, financing and shipping goods across the globe. As mentioned in the announcement: “Pandemic-induced lockdowns and the subsequent explosive… Read More

XDC Network is First Blockchain Operation to Join Trade Finance Distribution Initiative

XDC Network, a hybrid blockchain platform for global trade and finance, has been selected as the first blockchain company to join the global Trade Finance Distribution (TFD) Initiative, according to a note from XDC. The TFD Initiative is a consortium of trade originators, credit insurers,… Read More

BBVA and Alibaba Affiliate Ant Group to Work on Integration of Financial Services via DLT based Trusple

BBVA and Ant Group (Alibaba affiliate) have entered an agreement to work on the integration of financial services in their platform, Trusple. Based on blockchain or distributed ledger technology (DLT), this network aims “to accelerate the digital transformation and facilitate the financing of international trade… Read More

Fintech Finastra and International Chamber of Commerce to Pilot Trade Funding Marketplace in Ecuador

The International Chamber of Commerce (ICC) and Finastra have announced that they are bringing the trade funding marketplace pilot to Ecuador. ICC TRADECOMM – designed to tap into the international $1.5 trillion trade finance gap – should enable local SMEs to unlock new financing options…. Read More

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