Private equity investor Warburg Pincus has led a successful round of financing for TradeCard, raising $25.5 million in equity capital to fuel the company's expansion.
TradeCard, which offers an online alternative to traditional paper-based trade settlement, will use the funding to increase its member base and partnership bank network. While the company is headquartered in New York, much of its business is generated in Asia. Of the 12 partner banks that provide financing on TradeCard orders, nine are located in Asia, and 50% of its 200 exporter clients also hail from the region.
Warburg Pincus, which owns a majority stake in TradeCard, and has led all capital raisings since the company's...
