GTR Ventures invests into Orbitt, an African-focused fintech deals platform

0
237
 
 GTR Ventures,  an investment and venture-building platform specialized in trade and supply chain has invested into Orbitt — an African-focused fintech deals platform in a move that will see it develop its relationships with global and digital trade financiers.
 
The announcement was made during the Global Trade Review (GTR) Africa Trade and Investment Conference in London.
“Our partnership with GTR Ventures comes at an exciting time for us,” said Lanre Oloniniyi, CEO and Co-Founder of Orbitt. “Africa’s trade finance gap exceeds $100bn. By leveraging GTR’s tremendous footprint in Africa — NigeriaSouth AfricaKenya, and Zambia, we see Orbitt working alongside banks and funds, in bridging this gap.”
Based out of LondonSingapore and Hong Kong, GTR Ventures mobilizes private capital for trade and trade finance, investing in and supporting the development of trade-focused fintech companies (tradetechs) while working with multiple stakeholders to integrate technology into trade.
The deal will see Orbitt increase the efficient allocation of capital across the continent through smart-matching technology and by digitising the African investment ecosystem, Orbitt is tackling the challenges of reach, time and business development across the continent. Orbitt is based in London with operations in Mauritius and a user-base across 28 countries in Africa.
Singapore-based Kelvin Tan, CIO of GTR Ventures adds, “AfricaAsiatrade today stands at $500 bn, annually. However, capital providers to Africa remain hampered by the lack of financial tools and access to data. Orbitt’s technology can help lenders manage their risks, and to complete timely transactions in otherwise disconnected markets. We welcome partnerships with all stakeholders to improve credit transparency on the continent.”
READ  Online shopping site Zimazon connects shoppers in Zimbabwe to top deals on Amazon