Blooms secures US$2.6m to expand trade finance platform

Blooms, a Wilmington-based fintech startup, has raised US$2.6m in a seed funding round to fuel its technology development and regional expansion. The funding aims to strengthen the company’s position in AI-driven trade finance, with a focus on exporters in Latin America.

The seed round was led by SP Ventures and included contributions from Angel Ventures, The Yield Lab Latam, Eqwow Ventures, Glocal Managers, and Mercy Corps Ventures, among other investors. This capital injection is set to accelerate Blooms’ infrastructure enhancements and support its expansion efforts into new markets.

Revolutionising Cross-Border Trade with AI
Blooms has built a financial platform powered by artificial intelligence to assist Latin American agricultural exporters trading with the United States and Canada. The core mission of the company is to simplify complex financial operations—such as trade finance, cross-border payments, and currency exchange—while giving exporters better access to working capital and tailored FX services.

Company leaders described the challenges faced by exporters, particularly the issues of liquidity constraints and volatile currency exchange rates. The company’s AI-driven technology is designed to automate key financial workflows, helping exporters to better manage international transactions and improve efficiency.

A Holistic Platform for Exporters
Blooms’ financial services ecosystem supports exporters with a combination of factoring, pre-export financing, and foreign exchange tools. Central to the platform is a cross-border receivables purchasing service. This enables Blooms to assume credit risk in the importing country (primarily the U.S.), thereby offering quicker access to liquidity for exporters. Additionally, Blooms provides pre-shipment financing by purchasing anticipated receivables, allowing producers to secure funds before goods are shipped.

The company has also partnered with U.S.-based financial institution Monex to create a global payments and FX infrastructure. This solution allows exporters to receive payments through local banking channels in the buyer’s country, reducing delays and minimizing the risks associated with currency conversions.

Looking Ahead: Enhanced Financial Visibility
Further developments are underway, including a data analytics tool designed to provide exporters with insights into their cash flow and transaction records. This tool will help businesses improve their financial planning and forecasting by delivering enhanced visibility into their operations.

With its latest round of funding, Blooms is poised to scale its platform and deepen its impact in agricultural export markets across Latin America, driving innovation and financial accessibility in cross-border trade
.