The blockchain-based trade financing protocol Polytrade has completed a $3.8 million seed funding round, led by Polygon Ventures and others

2023-03-30 20:31:15

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ChainCatcher news, the blockchain-based trade finance protocol Polytrade has completed a $3.8 million seed round financing, led by Alpha Wave, Matrix Partners, Polygon Ventures, and CoinSwitch Ventures, with other investors including Singularity Ventures and GTM Ventures. The company previously received support from Polygon co-founder Sandeep Nailwal and QuickSwap co-founder Sameep Singhania.

It is reported that Polytrade's initial module includes a financing department that brings real-world revenue into Web3. The platform aims to provide working capital financing and invoices for small and medium-sized enterprises as well as large enterprises. The company is open to the retail market, but it primarily focuses on institutional participants and also aims to expand into the Latin American, U.S., and European markets. (source link)

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