Tradeteq, a London, UK-based platform which connects trade finance originators with institutional investors, raised £4.86m (approx. $6.3m) in additional seed funding.
The round was led by ADV.
The company intends to use the funds to continue to develop the platform.
Led by Nils Behling and Christoph Gugelmann in 2016, Tradeteq provides an AI-driven marketplace platform which opens up trade finance to a more diverse set of companies than traditional credit scoring models do.
Initially, the marketplace connects trade finance originators with institutional investors and provides them with opportunities to interact and transact efficiently. Machine learning is used to deliver advanced credit analytics and reporting.
Since launch in 2016, $150m of assets have been processed through Tradeteq’s platform.
Previous investors include GTR Ventures, which in invested in the company in March 2018 and since then Tradeteq has opened an office in Singapore to lead its expansion into Asia Pacific.