SmartLoC, a trailblazing startup, has recently concluded its seed funding round, amassing a total of €1.8 million to further its development of an avant-garde digital solution for B2B payments, tailored to the specific needs of the international trade sector. The fundraising was spearheaded by High-Tech Gründerfonds (HTGF), recognized as one of the premier seed investors in Europe. Joining the financial backing were Loggerhead Ventures, an early-stage climatech VC from Greece, the MBG Mittelständische Beteiligungsgesellschaft Schleswig-Holstein mbH, alongside several angel investors.
CEO Britta Balden shared her enthusiasm over the funding milestone, stating: “Our team is ecstatic about the successful funding, which propels us to fast-track the development of our pioneering platform and expand our business operations. At SmartLoC, our pursuit is to equip businesses with a state-of-the-art, streamlined, and secure payment mechanism that simplifies the intricacies of global trade. With the backing of HTGF and our seed investors, we’re poised to instigate substantial industry progression and deliver unparalleled service to our clientele.”
Since its inception in 2021, SmartLoC has been laser-focused on overhauling the B2B payment process in international trade through its cloud-based platform. By integrating cutting-edge technologies like IoT, blockchain, and AI, SmartLoC is set to transform the financial transaction landscape globally, inspired by the concept of the Physical Internet.
Martin Möllmann, Senior Investment Manager at HTGF, remarked on the partnership: “We are excited to partner with SmartLoC as they strive to redefine B2B payments for international trade. The team’s profound knowledge in finance, technology, and international trade, coupled with their inventive strategy, places SmartLoC at the forefront of this dynamic market. We are convinced of SmartLoC’s potential to revolutionize the traditional systems and bring significant value to businesses everywhere. We eagerly anticipate supporting their continuous innovation and growth.”
Evangelos Kosmidis, CEO and GP of Loggerhead Ventures, commented on the environmental impact of the SmartLoC platform: “We are staunch believers in SmartLoC’s mission to introduce supply chain intelligence in international trade, leading to notable CO2 reductions. The SmartLoC team’s blend of business acumen and technical proficiency positions them for rapid growth and a transformative impact on international trade. We are committed to aiding their forthcoming expansion, particularly focusing on development and sales endeavors in Greece.”
With the seed funding phase behind them, SmartLoC is well-equipped to refine its platform, scale its team, and expedite its market entry strategy. The company continues to stay true to its mission of empowering businesses with a modernized, efficient payment platform that facilitates effortless cross-border transactions.
