SmartLoC, a pioneering startup focused on developing a cutting-edge, fully digital B2B payment solution based on the monitoring of shipments and specifically tailored for international trade, announced the successful closure of its seed round, raising a total of €1.8 million. The round is led by High-Tech Gründerfonds (HTGF), one of the leading seed investors in Europe. Other investors include Loggerhead -Ventures, an early stage climatech VC from Greece, the MBG Mittelständische Beteiligungsgesellschaft Schleswig-Holstein mbH and several business angels.
Britta Balden, CEO of SmartLoC, expressed her excitement about the successful completion of the seed round: “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, efficient, 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.”
Founded in 2021, SmartLoC’s innovative cloud platform aims to streamline and digitize the cumbersome process of B2B payments in international trade, providing businesses with a seamless, secure, and efficient solution to manage cross-border transactions. With a focus on leveraging advanced technologies, including IoT, blockchain and AI, SmartLoC is poised to revolutionize the way businesses conduct financial transactions globally following the paradigm of the Physical Internet.
Martin Möllmann, Senior Investment Manager at HTGF, commented: “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.”
Commenting on the environmental potential of the SmartLoC platform, Evangelos Kosmidis, CEO and GP of Loggerhead Ventures, said: “We firmly believe in the value proposition of SmartLoC, to bring about supply chain intelligence in international trade and achieve significant CO2 reduction. SmartLoC team combines the business experience and technical know-how needed to grow fast and revolutionize international trade and we will be supporting their upcoming steps towards expansion., with emphasis on their development and sales activities in Greece.”
With the completion of the seed round, SmartLoC is well positioned to advance its platform development, expand its team, and accelerate its go-to-market strategy. The company remains focused on its mission to empower businesses with a modern and efficient payment solution that enables seamless transactions across borders.
Read the orginal article: https://www.eu-startups.com/2024/06/hamburg-based-smartloc-secures-e1-8-million-to-streamline-international-trade-b2b-payments/
