Hamburg-based SmartLoC, a startup that offers a B2B payment solution to support companies involved in international trade, has closed its seed round, raising a total of €1.8M in funding.
With this deal, SmartLoC looks to advance platform development, expand its team, and accelerate its go-to-market strategy.
Investors supporting SmartLoC
The funding round was led by High-Tech Gründerfonds (HTGF) and included investments from Greece-based early-stage climate tech VC firm Loggerhead Ventures, the MBG Mittelständische Beteiligungsgesellschaft Schleswig-Holstein mbH, and several business angels.
Martin Möllmann, Senior Investment Manager at HTGF, says, “We are excited to partner with SmartLoC on their journey to redefine B2B payments for international trade. The team’s deep expertise in finance, technology, and international trade, combined with their innovative approach, positions SmartLoC as a leader in this rapidly evolving market.”
“We believe that SmartLoC has tremendous potential to disrupt the status quo and deliver significant value to businesses worldwide. We look forward to supporting them as they continue to innovate and grow.”
IoT-driven trade finance
Founded in 2021 by Britta Balden, Thomas Kuhlke and Alessandro Vaglini, SmartLoC’s cloud platform aims to streamline and digitise the “cumbersome” process of B2B payments in international trade.
The platform provides businesses with a secure and efficient solution for managing cross-border transactions. Leveraging advanced technologies such as IoT, blockchain, and AI, SmartLoC aims to transform global financial transactions.
Britta Balden, CEO of SmartLoC, says, “We are thrilled to have secured this significant investment, which will enable us to accelerate the development of our groundbreaking platform and scale the business.”
“In SmartLoC, we are committed to empowering businesses with a modern, fubefficient, and secure payment solution that addresses the complexities of international trade.”
“With the support of HTGF and our other seed investors, we are confident in our ability to drive positive change in the industry and deliver exceptional value to our customers.”
Brief about High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) finances tech startups with growth potential and has supported over 750 startups since 2005. With its fourth fund, HTGF manages around €1.4B.
The team of experienced investment managers and startup experts focuses on high-tech startups in digital tech, industrial tech, life sciences, chemistry, and related areas. External investors have injected about €5B into the HTGF portfolio through over 2,000 follow-on financing rounds, and HTGF has exited more than 180 companies.
Fund investors include the German Federal Ministry for Economic Affairs and Climate Action, KfW Capital, and 45 companies from various industries.
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