Gauss Ventures invests in Traydstream
Trade-finance flows in the 21st century are still largely operated by 20th century agents relying on 19th century technologies. Traydstream is one of the worthy contenders changing this important market for the better.
Source: Traydstream
Award-winning trade finance fintech, Traydstream, today signalled a full scaling up of its commercial activities, having concluded a US$3.5 million pre Series-A round of financing, co-led by a group of ultra high net-worth individuals (UHNI) and Gauss Ventures.
“Due to strong investor demand, the offering size was increased from its initial amount of $2 million from existing shareholders, UHNIs with a deep understanding of trade financing in America, Europe, Middle East and Asia, as well as Gauss Ventures, which specialises in fintech growth strategies. This round brings Traydstream’s total funding to date at circa $6.0 million.
“We see in Traydstream an intelligent, scalable solution, developed by an experienced team, that can be easily implemented into clients’ existing processes to solve a real global problem,” says Daniel Gusev, Managing Partner from Gauss Ventures.
Traydstream’s AI powered platform transforms the costs, complexities and timescales of trade processing by automating document scrutiny and compliance checks. The proceeds will be used to accelerate its commercial penetration plans, support new client mandates and continue its product roadmap.”
We were wondering why an industry such as trade-finance, that saw tremendous increase in workload in late 90ies and early 2000 thanks to global ecommerce drive and trade liberalisation, still tries to negotiate and manage deals with paper, pen and phone.
To solve this conundrum, up comes Traydstream with executives from Citi’s trade finance function and other banking world professionals building a tech solution to radically drive down the time to negotiate a financing deal based on documents provided, with key necessary reporting and necessary messanging done in matter of minutes rather than days.
We see in Traydstream a combination of proven experience in the industry ripe for change as well as established track-record of paying clients benefiting from the network effect the platform creates.
Gauss Ventures Team.
