Award-winning trade finance fintech, Traydstream, today signalled a full scaling up of its commercial activities, having concluded a US$3.5 million pre Series-A round of financing, co-led by a group of ultra high net-worth individuals (UHNI) and Gauss Ventures.
Due to strong investor demand, the offering size was increased from its initial amount of $2 million from existing shareholders, UHNIs with a deep understanding of trade financing in America, Europe, Middle East and Asia, as well as Gauss Ventures, which specialises in fintech growth strategies. This round brings Traydstream’s total funding to date at circa $6.0 million.
“We see in Traydstream an intelligent, scalable solution, developed by an experienced team, that can be easily implemented into clients’ existing processes to solve a real global problem,” says Daniel Gusev, Managing Partner from Gauss Ventures.
Traydstream’s AI powered platform transforms the costs, complexities and timescales of trade processing by automating document scrutiny and compliance checks. The proceeds will be used to accelerate its commercial penetration plans, support new client mandates and continue its product roadmap.
“The success of this offering demonstrates that our approach to developing a solution anchored in today’s issues but with an eye for fast evolving future capabilities and complimentary, new-age technologies is resonating with investors,” said Sameer Sehgal, Traydstream CEO. ‘’We are both humbled and honoured by the trust that our investors have reposed in us and look forward excitedly to rolling out our solutions in the market place’’.
Achille d’Antoni, Traydstream co-founder added, “I’m truly proud of how the entire team has contributed concertedly into creating a world class solution. These are exciting times in the Trade Finance industry, to see how technology can dramatically improve the experience for all players’.
Recently, the International Chamber of Commerce (ICC) released its Trade Register, a report they produced with Boston Consulting Group. This trade register provides an overview of various aspects of trade finance – from credit risk profiles, to supply chain...