Traydstream secures NeoVentures investment for trade finance

Traydstream has secured a strategic investment from NeoVentures, the corporate venture capital arm of Mashreq, as the trade finance technology provider has sought to accelerate its expansion across the Middle East and Asia.

The investment has deepened a relationship between the companies that has included the launch of TraydFund, a trade-asset sell-down platform developed by Traydstream and NeoVentures. The platform has been designed to support a secondary market for trade finance assets and improve liquidity across the trade finance ecosystem.

Led by CEO Sameer Sehgal, Traydstream has supported more than $350 billion in trade volumes, covering more than seven million transactions and processing over 20 million pages for financial institutions and corporates across 68 countries, according to the company.

The latest investment has been positioned as more than a funding relationship, with the companies expected to explore commercial growth, distribution and funding opportunities. The collaboration has also aimed to expand Traydstream’s AI-enabled trade finance platform to a wider base of financial institutions.

Amith Rajan, Head of Wholesale Digital Banking at Mashreq and CEO of NeoVentures, has said the investment reflected the venture arm’s focus on backing fintech companies that align with Mashreq’s strategic priorities. NeoVentures has focused on fintech investments and venture-building initiatives designed to create commercial synergies for the bank.

Mashreq has established NeoVentures as its corporate venture capital arm, with the bank reporting that the unit had engaged with more than 35 banks and FinTechs and invested AED14.7 million in FinTech ventures by 2024.

The investment has therefore extended Mashreq’s involvement in trade finance technology, while giving Traydstream additional backing for its international growth strategy.