Traydstream announces its Series A funding round of $8m
Traydstream, a London based Fintech is delighted to announce the successful closure of its Series A funding round. The US $8m raised was led by Spearhead Capital in a round from institutional and private investors, including AFG Partners and several European Family Offices.
Traydstream is redefining Trade Finance by digitizing and automating document checking to improve efficiency and reduce risk. Powered by an AI enabled platform that digitizes structured and unstructured elements, automates trade rules and compliance checks with full centralized auditability. Traydstream, established in 2016, has scaled up from a disruptor in the highly manual and paper-based trade document checking processes to become the most advanced trade checking system in the market.
The Covid-19 pandemic has brought about an unprecedented level of disruption in global trade and has highlighted the weaknesses and limitations of existing Trade Finance processes and systems. Traydstream’s scalable, secure and seamless solution has proven to be the answer for many institutions, and it is now live with clients across 4 continents and 17 markets.
“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.”
Traydstream’s modular technology extracts data intelligently, using AI and optical character recognition. It slashes the time to complete checks on the dozens of documents generated by a single transaction, using a machine learning based engine to check against the underlying trade transaction with over a quarter million rules permutations.
Designed and built by leading individuals from the banking and technology communities, Traydstream, makes the document processing journey safer, scalable and profitable in an increasingly complex and costly trade finance environment.
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