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Fintech company Transigo earns $70M in funding to expand cross-border B2B marketplaces services

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January 7, 2022

Transico, a fintech company and a provider of software-as-a-service for cross-border B2B marketplaces with point-of-sale financing, has announced it secured up to $70 million in a funding round. The company plans to use this funding to expand this platform to major B2B marketplaces in Asia in 2022, according to a press release.

The point-of-sale platform integrates with marketplaces via a secure API and allows them to offer buyers up to $80,000 in point-of-sale credit with a maximum term of 90 days. It can also power approvals within minutes. The platform uses an AI deep learning-based scoring algorithm to provide estimates of a buyer's future financial performance.

"Cross-border B2B e-commerce is booming, with the market in China alone expected to hit almost $1 trillion in 2022. However, lack of credit is limiting growth. This is especially the case in Asian B2B marketplaces, which typically provide zero credit terms. Transigo is helping remove these financing constraints," Nir Tal, CEO of Transigo, said in the release. "This funding engagement, being with two public companies, will enable us to connect with more traditional institutions such as banks. This will further strengthen our financing capabilities."