Finverity, a digital ecosystem for trade and supply chain finance, has raised USD 5 million in an equity funding round that was significantly oversubscribed.
Outward, Acrobator Ventures, and S16VC Founders Fund, all first-time Finverity investors, supported the investment. B&Y Venture Partners and an unidentified group of UHNWIs were among the returning investors. Finverity intends to expand its staff from 40 to 60 people with the money. To almost completely cover the range of funded trade finance and working capital products, the company is working to expand its technology.
Through the sale of invoices, the company links businesses in need of working capital optimization with institutional investors looking to invest in alternative asset classes.