Singapore-based blockchain start-up, dltledgers, recently completed its Pre-Series A funding with global VC firm Walden International. Founded in 2017, dltledgers specialises in digitizing and transforming cross border trade execution as its key value proposition for its network of 340+ international trade house customers globally.
Cross border trade is growing in scale and complexity, and with that scale has come inefficiencies and challenges, driving margins down. Massive volumes of antiquated processes and documents clog cross border trade operations and related trade finance. dltledgers provides a suite of comprehensive products on an inter-enterprise, plug and play blockchain platform. By using smart contracts, traders on the platform can automate the creation of trade flows and build a digitally signed consensus framework among multiple parties. Banks and other trade finance organisations offer instant trade financing support, thus closing the loop. All parties have complete tracking and visibility, hence enabling speedy international trade execution.
dltledger’s blockchain-based network can be accessed through an easy online Software as a Service subscription with complete capability to integrate into a company’s existing enterprise systems, thus offering seamless linkages to blockchain based processes. It currently supports integration into software from SAP, Microsoft and Google Cloud Platform.
“We are impressed with dltledgers’ execution. In less than 18 months, its blockchain platform has facilitated more than US$1 billion of trade executed across 30+ banks and a network which is growing on a global scale.” said Kris Leong, Vice President of Walden International Singapore.
With close to 25 years of technical and entrepreneur experience, Samir assembled a seasoned team of managers from companies such as Accenture; PwC and SAP to build a bank grade blockchain platform. This platform enables traders to take advantage of the trusted framework, create trade contracts, connect supplier’s banks, carriers, buyer banks, brokers, etc into a repeatable secure and digital exchange of documents with industry standard consensus.
Samir Neji, Founder and CEO of dltledgers said “We are resolving unique business challenges in inter-operability; global business and cross border trade will thrive in an open and trusted framework. dltledgers is working on a 300 years old problem and we are executing well on our defined strategy. While many blockchain companies are in start up mode, piling up POC and Pilots, struggling to find value for customers, since the launch of dltledgers platform in October 2018, our 340+ customers have completed cross border trade execution of a billion plus dollars on blockchain, with thousands of repeat trades. The capital raised will be used for talent acquisition and market expansion into the region.“