Supply chain financing start-up OweMe has landed seed funding from pi Ventures, TechCircle reported on Tuesday (Dec. 11).
Investors provided US$1m for OweMe, which developed a platform using blockchain to link bank lenders and corporate buyers for access to trade finance. The UK-based company is owned by Sabstone and will use the investment to further focus on developing its product and growing its staff.
Reports noted that the funding marks the first cross-border investment by pi Ventures, based in India.
Registered with the UK Financial Conduct Authority (FCA), OweMe aims to accelerate and streamline the supply chain financing process by including banks in the platform that want to provide financing to corporate buyers.