GTR Ventures; an investment firm and a risk-building platform in the commerce and supply chain, announced an undisclosed amount of investment in Orbitt – a fintech trading platform that focuses on Africa.
With its smart match technology, Orbitt has proposed to leverage investors with commercial and investment opportunities. In this respect, the company claims to have facilitated more than $ 100 in equity, debt and commercial finance since its inception in 2016. It also takes care of the digitization of the African investment ecosystem.
Under development, Orbitt is the first African-oriented investment made by GTR Ventures. Moreover, Orbitt is the latest addition to the Ventures GTR portfolio of companies that develops products and solutions to meet the needs of the global trading and investment community.
Although it already has a presence in cities such as London, Singapore and Hong Kong, GTR Ventures will seek to work with Orbitt to strengthen its product and innovation focus on trade finance capabilities. The investment also aims to foster significant relationships between the platform and key players in the global market for traditional and digital commercial financing.
In a statement published on the GTR Ventures website, Lanre Oloniniyi, co-founder of Orbitt, can be cited as saying; "Our partnership with GTR Ventures is an impressive moment for us. GTR Ventures' trade network and export organizations will be important to help us attract major banks and funds from Asia, Europe and the Middle East to increase funding trade and investment in Africa ".
The announcement of the investment seems to coincide with the one this year Global Trade Review (GTR), Africa Trade and Investment Conferences which took place in London. The event can be considered an important annual meeting for professionals in areas such as international trade, export and project financing, especially those who want to explore the potential of the African continent. Such names as Afreximbank. Ecobank. Signed on the graph. SMBC, and BACB, were among the key financial institutions that were represented at the event.
"Today, Africa-Asia trade amounts to $ 500 billion annually. However, capital suppliers in Africa remain burdened by the lack of financial instruments and access to data." Orbitt technology can help lenders manage their risks and conclude deals on a timely basis in otherwise disconnected markets We welcome partnerships with all stakeholders to improve the transparency of credit across the continent. Collectively, our vision is to improve the banking capacity of each enterprise, SMEs and transactions in Africa. noted Kelvin Tan, investment director of GTR Ventures.
Also on development, Peter Gubbins, GTR General Manager and co-founder of GTR Ventures, was excited; "Although the continent has a trade finance deficit of over $ 100 billion, we are seeing a growing institutional and impact capital, eager to do more with Africa." Using the African fingerprint of GTR – Nigeria, Kenya, Zambia and South Africa, we see that Orbitt is working alongside partner banks and funds to overcome this gap. "
Image Credit Image: gtrventures.vc