TradeCafe, a Toronto-based B2B marketplace and technology platform that facilitates the trade of protein commodities, has secured C$10 million in financing, bringing total funding to C$43.5 million. The investor was Round13 Capital, a Canadian venture capital firm. Round13’s John Eckert will join the board.
TORONTO – February 25, 2021 – TradeCafe Inc., a B2B marketplace and technology platform that facilitates the global trade of protein commodities, today announced that it has secured a $10 million equity investment from Round13 Capital. Concurrent with the investment, John Eckert, Round13 co-founder and Managing Partner, will be joining the TradeCafe board of directors.
TradeCafe plans to use the funding to support the company’s global expansion, extend the reach of its technology to new markets, and enable ongoing research and development for its commodities trading platform. This investment brings the total funding raised to date to $43.5 million.
TradeCafe is a cloud-based technology platform and online marketplace for trading protein commodities. This global platform has been used to conduct, finance, and fulfill over $2 billion in trade transactions to date, and provides value across the entire supply chain, from producer to processor to retailer – at zero cost. The TradeCafe platform has more than 1,000 corporate participants and is backed by a multilingual team with extensive commodities trading experience.
“TradeCafe is driving a significant transformation in the way physical protein commodities are traded and transactions are fulfilled. We will be working closely with the team at TradeCafe to accelerate the conversion of a largely manual trading process to a digital solution,” said John Eckert, co-founder of Round13 Capital. “The digitization of this industry is long overdue, and we expect TradeCafe will experience widespread industry adoption as the solution becomes recognized as a giant step forward in efficiency.”
“Over the past two years we have created significant value for TradeCafe platform participants by digitalizing and simplifying complex processes faced by primary producers, processors, retailers, and service providers, allowing for better, faster, and cheaper trades and transaction flow,” said Nicholas Walker, CEO of TradeCafe. “As we prepare for the next phase of our growth, this injection of capital from Round13 – along with their team’s experience working with fast-growing digital enterprises – will enable us to further accelerate global usage of the TradeCafe platform.”
TradeCafe is the only cloud-based global trading platform that conducts, finances, and fulfills trade transactions in the protein commodities space. It is an online marketplace where everything in the complex logistics process is automated, centrally organized, and visible to all counterparties. Trading documents can be created and uploaded, invoices can be automatically generated and paid, and product can be tracked from farm to delivery point. Account and pricing history can also be plotted graphically to visualize market trends and manage cash flow cycles.
Founded in 2015, TradeCafe is a B2B marketplace and technology platform that facilitates the global trade of protein commodities. It is used by primary producers and processors, retailers, and distributors around the world to conduct, finance, and fulfil protein trade transactions. Additional information is available at TradeCafe.com.
About Round13 Capital
Round13 Capital is a Toronto-based venture capital firm that invests in growth-stage technology businesses. The firm is managed by experienced investors and operators. It uses a disciplined investment approach to identify exceptional entrepreneurs running companies with market leadership potential. Round13 works ‘hands-on’ with its portfolio companies to unlock strategic and financial value. For additional information, visit round13.com.