Lewis Silkin LLP advises FinTech platform Tradeteq, on its $6.3m funding round led by ADV
19 July 2018
Leading law firm Lewis Silkin LLP has advised Tradeteq, a Trade Finance Distribution Platform, on its $6.3 Million seed extension funding round led by Accelerated Digital Ventures (“ADV”).
Tradeteq’s platform connects trade finance originators with institutional investors and provides them with the technology to “interact and transact efficiently”. Machine learning is used to deliver credit analytics and reporting. Since its launch in 2016, $150 million of assets have been processed through the Tradeteq platform and this financing will be used for the expansion of that platform, and for the release of new applications and data services. Several of Tradeteq’s existing investors also participated in the seed extension round.
The founders of Tradeteq were advised by corporate partner Sam Pennington, Senior Associate Sadiq Tajbhai and Associate Jack Baldwin.
Tradeteq founding partners, Nils Behling and Christoph Gugelmann, said:
“The Lewis Silkin team delivered a first class service. Sam and his team provided invaluable input, guidance and support to the company, helping us navigate through this round which we anticipate will be transformational for the business. Sam’s strategic, commercial advice has certainly helped us reach this substantial milestone for Tradeteq, and will enable us to achieve our vision of making trade finance a truly investable asset”.
Sam Pennington, partner in Lewis Silkin’s Tech practice, said:
“We are delighted to have been involved in yet another Fintech deal and to have assisted this gifted team in taking the next step with the Tradeteq platform. With our market-leading Tech practice combining a multitude of legal disciplines, Lewis Silkin has shown again its aptitude for working with the most dynamic businesses in UK Tech. And as for Tradeteq, the sky truly is the limit.”