GTR Ventures Signed 3 Separate Fintech Deals at Singapore Fintech Festivalby Fintechnews Singapore November 12, 2018
GTR Ventures, an investment and venture-building platform that specialises in trade and supply chain has announced three new deals with Lucidity, iLoan, and RM-Tech, each a company hailing from a different Asian region. These three investments for GTR Ventures represents an expanded pivot towards markets in China and South Asia.
GTR Ventures is based out of London, Singapore, and Hong Kong, and focuses its capital on trade-centric fintech companies while working together with a variety of stakeholders to integrate technology into trade.
Lucidity is a trade finance documentation solutions provider that employs automation and machine learning to improve efficiencies in manual paperwork such as letters of credit, allowing exporters to get paid faster and improve their productivity. Lucidity also enables automation in trade finance compliance checks for banks, helping them to reduce operational costs as well as lower their risks against the global backdrop of increasing compliance oversight. Lucidity is backed by PSA unboXed, the corporate venture capital arm of Singapore’s global port operator PSA International.
iLoan provides blockchain solutions for lending to SMEs, wholesalers, and distributors. Its technology allows lenders to reduce invoice fraud, lower processing costs and have traceability of each transaction. iLoan is a part of John Keells X, which is a startup accelerator designed to support early-stage startups, initiated by John Keells Group, Sri Lanka’s largest business conglomerate.
RM-Tech is a fintech solution provider to banks, corporates, and business-to-business (B2B) portals. Its product suite aims to allow for multi-channel payments and high connectivity to banks for clearing and settlement services. Connected to seven banks in China, it has over 300 Chinese customers and processes over RMB100mn of transactions each month. RM-Tech is working with GTR Ventures to offer cost-efficient cross-border B2B payment services from its existing network of banks and Chinese exporters.