WealthTech Tradeteq has secured $9.4m in a Series A round designed to fuel the further development of its product development.
The startup has created a bank asset distribution platform that provides credit insurers, banks and asset managers with a way to streamline asset distribution and reduce friction cost.
“Trade finance distribution is more than just allowing banks and investors to transact assets,” said Christoph Gugelmann, co-founder and CEO of Tradeteq. “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.”
Tradeteq secured $6.3m in a seed round in 2018.
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