London-based fintech Traydstream, which digitises and automates the trade finance industry has snapped $21 million in a Series B funding round. The investment was led by Pivot Investment Partners, a US-based fintech investment firm, and e& capital, the investment arm of e& that previously backed LabLabee.
The fresh investment will catalyse the next phase of Traydstream’s growth and advance its mission to transform trade finance. It will also accelerate Traydstream’s efforts at enhancing its AI-powered platform, which has already garnered acclaim for its significant impact on trade documentation scrutiny, compliance checks, and risk management.
Eventually, the UK fintech will unlock new dimensions of efficiency, accuracy, and agility for its growing global clientele.
Dinkar Jetley, Pivot’s Managing Partner commented “We have been greatly impressed by Traydstream’s team, platform, and strong traction with clients across geographies. We look forward to partnering with the leadership team on this exciting next phase of the company’s growth, accelerating momentum and serving the needs of a fast-growing roster of clients, both banks and corporates.”
“Traydstream’s commitment to driving innovation in the trade finance domain fits perfectly with our investment philosophy,” said Kushal Shah, Managing Director of e& capital. “We’re thrilled to join hands with Traydstream on its journey to redefine industry standards through cutting-edge technology. Trade is essential to the UAE and the Middle East, and we see a huge opportunity to be able to expand our expertise and reach, making a meaningful impact to the SMEs and corporates in the UAE and around the world.”
Sameer Sehgal, CEO of Traydstream, expressed his enthusiasm about the funding round’s potential. “This Series B funding marks an important milestone in Traydstream’s journey. The trade finance ecosystem is at an inflection point, and with innovative technologies, we see the power of converging capabilities to simplify the lives of all involved in trade and commerce worldwide. With the support of Pivot and e& capital, we are committed to accelerating our product innovation, extending our technology leadership, and driving fundamental shifts in how trade finance operates.”
Redefines trade finance
Traydstream was founded in 2015 in London by Achille D’Antoni, Gary Bhattacharjee, Uzair Bawany, and Amrish Sehgal. It was created with the aim of redefining the highly manual and paper-based trade finance process with breakthrough technology. The AI-powered technology platform provides the most advanced automated trade-checking system in the market and replaces manual processes.
Traydstream provides automated trade document scrutiny and compliance checking, and risk management solutions to empower financial institutions and corporates to streamline trade finance operations, reduce risks, and enhance efficiency.
