Media Release: TradeLanes.co raises $4 million to digitize global trade
by Communications Team, on Sep 8, 2020 10:12:35 AM
Funding enables TradeLanes to further develop and deepen product offering for commodity exporters around the globe
San Francisco, CA – TradeLanes is excited to announce that we have successfully raised $4 million USD from our existing investors. The new investment round will enable TradeLanes, which applies advanced technology and machine learning to digitize global trade for large B2B transactions, to deepen the functionality of the platform and expand service to exporters in additional commodity verticals.
The round was led by S2G Ventures, a leading multi-stage venture fund investing in food and agriculture companies that are working to build a healthier and more sustainable food system. Additional investors in the round include: iSelect Fund; Innova Memphis; Prairie Crest Capital; Bread & Butter Ventures; Closed Loop Partners; Techstars Ventures; Turas Mara; and 5G.
Matt Walker, Managing Director at S2G Ventures, says, “We’re excited to double down on our investment in TradeLanes. We have been impressed by what the team has accomplished and look forward to supporting its vision to make global trade paperless and frictionless. We at S2G see efficient trade execution as a vital component of any well-functioning supply chain, and we are pleased to support TradeLanes as it expands access and increases transparency in global trade.”
TradeLanes was founded in 2015 to make global trade easy and accessible for all producers, traders, and merchants. Our core product eliminates paper from global trade, bringing trade execution entirely online into a seamless ecommerce experience that connects all parties and speeds the transaction cycle by days, even weeks. TradeLanes gets exporters paid faster.
Vijay Harrell, founder and CEO of TradeLanes, announced, “I am so grateful to our investors for the knowledge, capital, and networks that they bring to TradeLanes; and to our world-class team for the incredible results they deliver for our customers.”
Harrell started TradeLanes to address two key problems: the difficulty of getting goods to their destination on time and the lack of resilience in global trade value chains.
“It is amazing to see the reactions that global commodity traders have when they experience the TradeLanes platform,” Craig Herron, Vice President at iSelect Fund explains. “We are thrilled to accelerate TradeLanes’ growth.”
TradeLanes holds the non-consensus view that trade execution – the process from the moment a sales contract is written through to the moment of delivery at destination – can be turned into a competitive advantage. TradeLanes optimizes the part of the value chain where commodity producers, merchants, and traders make their money, helping them increase margin.
“As TradeLanes’ first investor we’ve seen tremendous growth since 2015, but we’re even more excited about what the next 18 - 24 months holds,” says Jan Bouten, Partner at Innova Memphis. “We have seen a big shake-up to global trade supply chains, and it’s more apparent than ever that every large commodity producer and trader in the world should be seeking to work with TradeLanes.”
TradeLanes has offices located in San Francisco, Memphis, Miami, and London.
TradeLanes is a technology company building the future of global trade. We apply advanced technology and artificial intelligence to make global trade smarter, faster, easier, and more profitable. Our core product, the TradeLanes Trade Delivery Platform, transforms B2B trade -bringing trade execution operations entirely online and leveraging data and machine intelligence to drive simplification, efficiency, and performance. We are the new way businesses trade with other businesses.
Learn more at tradelanes.co