TangoTrade
B2b fintech company leveraging blockchain and smart contracts to reinvent trade finance for smbs.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
N/A | Seed | ||
| Total Funding | 000k | ||
Related Content
TangoTrade operates as a business-to-business fintech company, providing a software payment solution specifically designed for freight forwarders and small to medium-sized businesses (SMBs) engaged in international trade. Founded in 2018 by Scott Reynolds (CEO), Diego Sabaris (CTO), and Sam Hayes (President), the San Mateo-based firm aims to simplify global commerce by reducing risks and complexities.
The company's core offering, Payment Assurance, modernizes the traditional letter of credit process, which has historically been difficult for SMBs to access. This service functions similarly to an escrow, where the buyer's payment is held in a secure, licensed account. TangoTrade then validates that the shipment has been made before releasing the funds to the seller. This process provides payment security for exporters and ensures that buyers and sellers fulfill their agreements. The platform is accessible to SMBs through integrations with freight forwarders and B2B marketplaces via an API, and it includes an online interface for managing the entire international transaction.
TangoTrade's business model centers on acting as an intermediary, facilitating secure transactions without taking on the financial risk itself. Revenue is generated by providing these secure payment options, which can include access to credit lines or term loans through partnerships, such as a notable collaboration with Fundation. The platform's integrated system features an application layer, an API layer, and a platform layer that encompasses services like financing, transaction management, shipment tracking, and payment transfers. Through a partnership with foreign exchange company Tempus, TangoTrade also offers competitive exchange rates and local payment options.
Keywords: trade finance, freight forwarders, cross-border payments, SMB international trade, B2B fintech, payment assurance, letter of credit alternative, global commerce, supply chain finance, escrow service, import/export payments, Scott Reynolds, Diego Sabaris, transaction management, shipment tracking, foreign exchange solutions, trade credit, payment security, fintech platform, San Mateo startup