Chilean FinTech company BTrust, founded in 2023, has successfully raised $1.5m in a seed round led by Invexor.
This funding round also saw participation from three other angel investors, according to a report from Contxto.
BTrust offers a real-time factoring auction platform that allows SMEs to sell invoices directly to end buyers, cutting interest rates by 75% compared to traditional methods. Currently, the company processes $3.5m monthly, with a cumulative total exceeding $30m since its launch last year. The platform is utilised by several hundred SMEs and facilitates invoice transactions for 350 large companies.
With the new funding, BTrust aims to expand its operations and enhance its AI solution, which prevents invoice fraud by detecting and alerting on anomalous behaviours.
BTrust operates as a SaaS company offering Supply Chain Finance solutions for corporates and their suppliers. The company creates a digital ecosystem where businesses can optimise their cash flow and working capital through their invoices, accessing a competitive investment funds network to fund early payments. This approach has a positive and measurable impact on ESG indicators.
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