Ant Group, others backed Proxtera raise Seed funding for global MSME ecosystem
Ant Group, CerraCap Ventures, and EDBI contributed to Proxtera’s closing of its seed round of fundraising.
Proxtera, a company established in 2020, carries out the Commerce without Borders project spearheaded by the Monetary Authority of Singapore and the Infocomm Media Development Authority. By the use of verified credentials and cross-border B2B trade facilitation services, the firm aims to build a worldwide ecosystem for MSMEs.
Programs like the Emerging Markets Currency Exchange and the SME Financial Empowerment Program have been introduced by the company. Although the latter assists firms in locating attractive foreign exchange rates for illiquid currencies, the former strives to increase the digital financial literacy of SME owners.
With the additional funding, Proxtera plans to expand its services and roll out new digital goods to cover the whole B2B trade process.
“We look forward to working together and bridging market access and creating more opportunities for MSMEs through digitalization of trade and financing,” said Jia Hang, Ant Group regional general manager for Southeast Asia.
An innovative open internet platform called Ant Group, which began as Alipay, employs technology to assist its partners in offering a variety of financial services.
