40Seas raises $6m to digitise cross-border trade financing

By Delisha Fernandes

40Seas, a Tel Aviv-based digital trade financing solution and FinTech platform, has secured $6 million in Seed Funding.

New investors Eminence Ventures and QED Investors participated in the funding round; this extends the seed round announced in January to $17 million and includes participation from existing investors Team8 and ZIM Integrated Shipping Services.

Eyal Moldovan, Co-Founder and CEO of Team8 said, “Team8 and ZIM have doubled down on their financial backing at a pronounced increase in valuation, which is a huge sign of confidence in our unique value proposition, especially given the current market conditions. We’ve also secured funding from two renowned investment groups in QED via their seed fund and Eminence Ventures, which will help tremendously with our US and Asian expansion. This round extension will provide a significant financial runway to execute a robust growth strategy in 2023 and beyond.”

40Seas is a digital trade financing solution built for the global supply chain. The company leverages AI and data-driven technology to offer flexible B2B payment options disrupting legacy trade financing solutions, making it faster, cheaper, and more accessible for supply chain players – importers, exporters, freight forwarders and sourcing agencies to access working capital.

This funding will help cement the pivotal role that 40Seas is playing in digitising the cross-border trade financing industry. By integrating flexible financing options into trade workflows, our embedded solution solves the working capital gap between importers and exporters and removes friction in global commerce.