Manual processes with multiple checkpoints are always difficult to manage. Whereas, automating it with technology could save a lot of time & bring efficiency too. A perfect example of this is Traydstream, a London based Fintech redefining trade finance recently announced the successful closure of its Series A funding round of $8 million (£5.65m).
$8m Series A funding to redefine trade finance
The Series A round was led by Spearhead Capital along with institutional and private investors, including AFG Partners and several European Family Offices.
Traydstream aims to redefine trade finance by digitising and automating document checking to improve efficiency and reduce risk. Its AI-powered platform digitises structured and unstructured elements, automate trade rules and compliance checks with fully centralised auditability.
Traydstream established in 2016 with an aim to redefine 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.
“It’s been inspiring to see the interest in Traydstream and our business mission from our investors. This funding round allows us to accelerate our investment into infrastructure and people as we look to serve clients globally and across diverse time zones” said Sameer Sehgal, CEO, Traydstream.
“We have assembled a world-class team and it’s exciting every day to reimagine trade, using the latest technology innovations at our disposal. It’s a fantastic opportunity to serve our clients, financial institutions and corporates all over the world, with truly unique solutions which make their lives so much simpler and frictionless”.
Ron Savino, Managing Partner, AFG Partners, notes “We’ve been impressed by the team at Traydstream, their experience, vision and the progress they have made thus far. Having researched the market, we believe their solution is unique and fundamentally game-changing for the Trade Finance industry. They continue to extend their platform by adding innovative new products and features that we believe will define best practices for the industry.”