Nigerian trade finance startup FrontEdge secured $10 M Debt & Equity funding
In order to expand its activities throughout Nigeria, Kenya, and other African nations, the trade finance company FrontEdge, based in Nigeria, has raised US $10 million in debt and equity capital. FrontEdge assists African SMEs in transnational trade.
Front Edge was established in 2021 by Moni Alli and focuses on offering software tools and working capital solutions to importers and exporters in developing regions. The company wants to help African cross-border trade flourish by giving SME importers and exporters the resources and know-how they need to expand and compete globally.
“SMEs are the cornerstone of our economies and the export market presents a significant opportunity for small and medium sized African businesses. However, from Lagos to Mombasa, business owners are constrained by an inability to finance their exports as well as a lack of support at every stage of the export process. FrontEdge was founded to address both challenges through a seamless technology platform tailored to cross-border traders,” said Alli, who founded the company after completing his MBA at Harvard Business School.
Digital trade finance platform FrontEdge has raised $10 million in debt and equity in a funding round led by TLG Capital and includes Flexport in order to start its goal.
“TLG is proud to support FrontEdge in its mission to help African SMEs prosper, serving as a crucial conduit to provide access to capital for Africa exporters and financial empowerment. FrontEdge is strategically placed to tackle an important problem that must be solved for African traders to effectively engage in global trade and we believe that the leadership will execute on the vision,” said Johnnie Puxley of TLG Capital.
