Finverity secures $5m in equity funding to expand its team and international presence
The oversubscribed round was backed by Outward, Acrobator Ventures, s16vc founders fund, and B&Y Venture Partners.
Finverity operates a digital ecosystem for trade and supply chain finance, offering both a funding platform and software solutions for financial institutions. The company serves clients across multiple regions including the Middle East, Africa, and Eastern Europe.
Finverity has secured $5m in a fresh equity funding round to accelerate its international expansion and workforce growth. The investment was backed by a mixture of new and existing participants, featuring fintech specialists and high-net-worth individuals.
The capital injection follows a period of rapid expansion for the digital trade finance platform, which recorded significant revenue growth in 2022. Proceeds will be directed towards increasing headcount and completing new office launches in key overseas markets.
Outward, Acrobator Ventures, and s16vc founders fund participated in the financing alongside returning backer B&Y Venture Partners. The round highlights sustained appetite for supply chain finance technology amid broader macroeconomic shifts.
From the founder
"When we started this fundraise the market was just starting to go through a rough spot, so there was a lot of talk about negative sentiment. However, what we found is that there is a significant amount of venture capital out there. Funds have been raised and need to be deployed, investors are just more selective. Our industry is counter-cyclical and we designed our business to grow in a sustainable way, with positive unit economics and a clear path to profitability in mind. The current macro trend has played to our strengths and allowed us to select amazing partners for the journey ahead! We are very grateful to all of our new investors and are excited to build out the next stage of Finverity’s growth in partnership with them!"
Viacheslav Oganezov
CEO & Co-founder at Finverity
Investor perspective
"Whilst technology has powered exponential growth of the multi-trillion dollar SCF and trade finance industry in developed economies over the last decade, some of the world’s most important emerging economies have been somewhat left behind. Prohibitively high set-up costs, immediate and complex integration requirements and insufficient AML/KYC capabilities of existing platforms all act as contributors to manual and paper-based processes remaining the market norm. Finverity team’s deep understanding of these acute pain points has enabled the creation of a solution that is truly fit for purpose."
Andi Kazeroonian
Principal, Outward
Use of funds
- 01Grow the team
- 02Expand into international markets
