ING Ventures, the venture capital arm of ING Bank, announced on 21 June, that it will invest in UK-based API and blockchain powered company, TradeIX.
ING Ventures led a USD 16 million Series A investment into TradeIX, alongside other investors Kistefos, BNP Paribas and Tech Mahindra.
Chief Innovation Officer and CEO of ING Ventures Benoît Legrand said ING Ventures was constantly looking for fintechs that help provide a differentiating experience for clients.
“Extending our existing partnership into an investment helps to bring this solution to even more clients in the near future, empowering them to stay ahead in their business,” said Benoît.
Head of Transaction Services Mark Buitenhek said TradeIX offers a great solution for trade finance that enables clients to become more efficient and transparent.
“TradeIX operates via an open platform and ‘open’ is what ING thinks the future of financial services is going to be. On top of that, we see plenty of opportunity in distributed ledger technology, so we’re happy to announce we are now intensifying our cooperation with TradeIX.”