London-based fintech Traydstream has secured US$11mn in a recent interim funding round.
The round was led by New York-based fintech Pivot Investment Partners with “strong participation” from e& capital, the investment arm of Abu Dhabi-headquartered e&.
Traydstream says it will use the fresh funding to drive its next phase of growth and help speed up the digitisation of trade finance.
The firm’s AI-driven platform digitises trade documents such as letters of credit and bills of lading, and then automates typical checking and compliance processes.
The capital will enable the fintech to “keep scaling while deepening our machine learning, agentic and GenAI capabilities across the global trade ecosystem”, says Sameer Sehgal, chief executive of Traydstream.
“Trade finance is at a true inflection point,” Sehgal says. “With our presence in 66 countries, doubling transaction volumes annually, and a suite of recently launched products – from distribution, supplier and sales finance to enhanced compliance and analytics – we are perfectly positioned to turbocharge transformation for banks and corporates worldwide.”
The latest fundraise builds on the fintech’s previous series B round, which closed in September 2023 and also brought in funding from Pivot Investment Partners and e& capital.
Dinkar Jetley, managing partner at Pivot Investment Partners, adds that Traydstream’s “deep engagement” with global banks means the firm is “uniquely positioned to redefine trade finance”.
“We are especially excited by the synergy between trade processing and trade finance – by enabling supplier and trade financing alongside real-time distribution for banks, Traydstream is solving some of the industry’s most pressing and practical challenges,” Jetley says.
Harrison Lung, group chief strategy officer at e&, says the fintech’s “vision for transforming trade finance aligns with our investment ethos to empower innovative tech businesses, drive growth and enable meaningful progress for a better future”.
“As the Middle East cements its place as a global financial hub, platforms like Traydstream are pivotal in helping banks digitise, streamline operations and enhance security,” Lung adds.
Earlier this year, Traydstream hired Michael Viscepan as sales director, with the aim of growing the global footprint of its AI-powered document checking business.
In April 2024, it hired Stephan Hufnagl from Microsoft to be its chief technology officer, as part of its increased focus on AI and machine learning.
