London-based fintech Traydstream has made waves in the industry by securing an impressive $21 million in a Series B funding round. The funding was led by Pivot Investment Partners, a prominent US-based fintech investment firm, and e& capital, the investment arm of e& with prior backing of LabLabee.
This fresh injection of capital is set to propel Traydstream into its next phase of growth and drive its mission to reshape the landscape of trade finance. It will also supercharge Traydstream's ongoing efforts to enhance its AI-powered platform, which has already gained recognition for its significant impact on trade documentation scrutiny, compliance checks, and risk management.
The ultimate goal for this UK fintech is to unlock new levels of efficiency, accuracy, and agility for its expanding global clientele.
Dinkar Jetley, Managing Partner at Pivot, expressed his confidence in Traydstream, stating, "We have been greatly impressed by Traydstream’s team, platform, and strong traction with clients across geographies. We look forward to partnering with the leadership team on this exciting next phase of the company’s growth, accelerating momentum and serving the needs of a fast-growing roster of clients, both banks and corporates."
Kushal Shah, Managing Director of e& capital, echoed this sentiment, saying, "Traydstream’s commitment to driving innovation in the trade finance domain fits perfectly with our investment philosophy. We’re thrilled to join hands with Traydstream on its journey to redefine industry standards through cutting-edge technology. Trade is essential to the UAE and the Middle East, and we see a huge opportunity to be able to expand our expertise and reach, making a meaningful impact to the SMEs and corporates in the UAE and around the world."
Traydstream's CEO, Sameer Sehgal, shared his enthusiasm for the potential unlocked by this Series B funding, emphasizing the transformative power of innovative technologies in the trade finance ecosystem. He stated, "This Series B funding marks an important milestone in Traydstream’s journey. The trade finance ecosystem is at an inflection point, and with innovative technologies, we see the power of converging capabilities to simplify the lives of all involved in trade and commerce worldwide. With the support of Pivot and e& capital, we are committed to accelerating our product innovation, extending our technology leadership, and driving fundamental shifts in how trade finance operates."
Traydstream, founded in 2015 in London by Achille D’Antoni, Gary Bhattacharjee, Uzair Bawany, and Amrish Sehgal, was born with a mission to revolutionize the predominantly manual and paper-based trade finance process through groundbreaking technology. Their AI-powered platform stands as a testament to their vision, offering the most advanced automated trade-checking system in the market while replacing cumbersome manual processes.
Traydstream provides automated trade document scrutiny, compliance checks, and risk management solutions, empowering financial institutions and corporates to streamline trade finance operations, mitigate risks, and boost efficiency. As they continue to secure substantial funding and forge strategic partnerships, Traydstream is undoubtedly a fintech company to watch in the ever-evolving trade finance landscape.