Tradeteq, a technology provider for bank asset distribution, has announced the successful completion of its Series A funding round, securing US$ 9.4 million from a consortium of US technology investors.
This brings the total raised since the company launched to more than US$ 16 million.
Tradeteq plans to use the funding to speed up its product development and expand its geographical reach.
The firm provides banks, credit insurers and asset managers with the technology and services to streamline asset distribution and reduce friction costs through automation. This includes the ability to package trade finance products into standardised investments that can be bought and sold through private distribution networks and settled like common fixed income products.
Its platform is being used by a diverse range of bank and non-bank financial institutions, such as members of the International Trade and Forfaiting Association (ITFA)-led Trade Finance Distribution Initiative.
Christoph Gugelmann, Co-Founder and CEO of Tradeteq said,
“Trade finance distribution is more than just allowing banks and investors to transact assets. It is about fundamentally transforming the way trade finance divisions, and the wider global trade ecosystem, operate. Greater automation and digitisation are key to increasing efficiency and unlocking the potential value of this market.
“The completion of our Series A round marks an important milestone for Tradeteq. The significant interest we received in our latest funding round is proof that the industry shares our vision to address a key barrier for financing that many businesses face, help banks manage their regulatory requirements and close the ever-expanding trade finance gap.”
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