Orbitt, a digital deal origination and processing platform focused on Africa, has received an investment from GTR Ventures.
This deal marks the first time GTR Ventures has backed an Africa-based company.
Alongside the capital injection, GTR will help Orbitt strengthen its trade finance capabilities by bolstering its product and innovation efforts. The firm will also enhance Orbitt’s relationships in the global marketplace or both traditional and digital players.
Orbitt is an online investment platform which is focused on the African market, helping investors to build portfolios based on sector, geography, capital type and ticket size. Its origination service is able to connect investors with the best opportunities.
The solution also empowers intermediaries to match with potential investors that are interested in the specific sector and geography.
To date, the company has helped to facilitate more than $100m of equity, debt and trade finance transactions, according to Orbitt.
Through the partnership with GTR, Orbitt is hoping to attract major banks and funds across Asia, Europe and the Middle East in order to boost lending and investing in Africa.
GTR Ventures CIO Kelvin Tan said, “Africa-Asia trade today stands at $500 bn, annually. However, capital providers to Africa remain hampered by the lack of financial tools and access to data. Orbitt’s technology can help lenders manage their risks, and to complete timely transactions in otherwise disconnected markets.
“We welcome partnerships with all stakeholders to improve credit transparency on the continent. Collectively, our vision is to enhance the bankability of every firm, SME, and transaction in Africa.”
GTR Ventures, which has offices in Singapore, London and Hong Kong, launched in September 2017 with a focus on startups operating in the trade finance sector.
The firm made its initial five investments in March this year, backing Singapore-based, Incomlend, eFundSME, Culum Capital and Trade Finance Market, and UK-headquartered Tradeteq.
In an interview with FinTech Global Kelvin Tan said avoiding the ‘hubris’ of FinTech investing and moving to more niche areas was key when launching GTR Ventures.
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