Web3 protocol for global trade Polytrade raised a $3.8M Seed round.
The startup is working on a financing division to move real-world yields onto Web3.
- Polytrade claims to have processed two million invoices to date.
- The startup expects its trade financing book size to reach $50M and all trading volume to surpass $1B this year.
- "My
single focus is to bring every single trade document, trade financial
players and trade counterparties on chain, so that everybody can go to
one blockchain page and know everything about a particular buyer or
supplier," said Polytrade's co-founder and CEO Piyush Gupta.
- The
round was led by Alpha Wave, CoinSwitc, Matrix Partners, and Polygon
Ventures, with participation from Singularity Ventures and GTM Ventures.
