(L-R) Ant Group’s Jia Hang, IMDA CEO Lew Chuen Hong, Proxtera CEO Saurav Bhattacharyya, and MAS’s Leong Sing Chiong
Singapore-headquartered Proxtera, a digital platform aiming to make MSMEs’ cross-border trade easier, has made the first close of its Series seed round of funding.
The investors are Ant Group, CerraCap Ventures, and EDBI.
The financial details remain undisclosed.
The funding will be used as working capital to further develop Proxtera’s innovative digital cross-border trade and financial services enabled by trusted credentials.
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“This funding will allow us to bring our product to more Singapore businesses, spread to select global markets, expand our bench of talented individuals and positively impact MSMEs in the world of cross-border trade and finance,” Proxtera CEO Saurav Bhattacharyya said.
Proxtera operationalises the Business sans Borders initiative by the Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA).
Proxtera uses digital technology to help MSMEs gain trusted credentials and make marketplaces efficient and discoverable globally. MSMEs can connect with B2B marketplaces, financiers, payment providers, and other cross-border trade experts to save time and money.
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