40Seas Overview
40Seas is a digital trade financing solution built for the global supply chain. The company leverages artificial intelligence and data-driven technology to offer flexible B2B payment options, making it fast, cheap, and easy for supply chain players, such as importers, exporters, freight forwarders, and sourcing agencies, to access working capital.
Cumulative Funding Raised Over Time ($)
$6.0MAug 2023
$106.0MJan 2023
$117.0MJan 2023
Latest News
growth-positive
How 40Seas solves cross-border payment issues
40Seas, a cross-border digital financing solution, recently raised $117 million, including a $100 million credit facility with ZIM. The company helps firms to order products and pay later, thereby aiding growth and reducing risk for sellers. The companys solution allows exporters to offer payment terms and workflow to foreign buyers without assuming any risk. The companys founder, Eyal Moldovan, believes this could help close a $5-$7 trillion financing gap in SME cross-border trade. The company is also well-positioned to help companies adapt to shifting supply chains.
InvestmentPartners
growth-positive
40Seas extends Seed round to $17 million for its cross-border digital financing solution | CTech
Digital financing solution 40Seas has secured an additional $6 million in Seed, bringing its total to $17 million. The round saw participation from new investors Eminence Ventures and QED Investors, as well as existing investors Team8 and ZIM. The funding will be used for the companys U.S. and Asian expansion. 40Seas also announced the expansion of its strategic partnership with ZIM, which has provided the company with a $100 million credit facility. The partnership will provide ZIM’s global customer base with an embedded and flexible digital financing solution to ease the burden of freight and inventory expenses.
InvestmentPartnersExpand
growth-positive
ZIM Expands Partnership with 40Seas to Offer Flexible Digital Financing Solutions to its Customer Base
ZIM Integrated Shipping Services Ltd has expanded its partnership with cross-border trade financing platform 40Seas. The collaboration will integrate 40Seas digital financing solution into ZIMs website and its digital freight forwarding subsidiary, Ship4wd. The service will be gradually rolled out in the US, Canada, UK, France, Germany, Italy, Belgium, Netherlands, and Australia. Customers will be able to defer payment for freight charges for up to 90 days from the invoice date and leverage 40Seas credit line to finance cargo. ZIM participated in 40Seas $11 million seed funding round and provided a credit facility of up to $100 million.
PartnersCustomersInvestment
growth-positive
40Seas, a New Fintech Platform Designed to Modernize Cross-Border Trade Financing, Secures Funding of $111 Million from ZIM and Team8
Fintech startup 40Seas has raised $111 million in funding to provide a more efficient and cost-effective financing framework for SMEs involved in global trade. The funding round, led by Team8 with participation from ZIM Integrated Shipping Services Ltd., comes as 40Seas emerges from stealth mode. The company aims to close the $1.7 trillion global trade finance gap by leveraging AI and data-driven technology to offer flexible payment options. 40Seas has already financed transactions for dozens of SMEs since its soft launch in October 2022 and is expected to finance tens of millions of dollars in the coming months. As part of their strategic cooperation, ZIM has extended a three-year, account receivables-based, senior secured, revolving credit facility of approximately $100 million to 40Seas.
InvestmentPartners
| Sector | Fintech & Insurtech |
Funding
| Total funding | $17M |
| Last funding | $6M |
| Stage | Seed |
| Rounds | 3 |
| Investors | 4 |
Team Members
7
Employees: 11-50
Web & Social Links
| Website | www.40seas.com/ |
| Careers | Careers page |
Locations
Tel Aviv-Yafo, Israel
Toronto, ON, Canada
New York, NY, USA
Shenzhen, Guangdong Province, China
Photos & Videos
No files yet
40Seas Business
Business models
B2B
Product stage
Released
Employees
11-50
Sector
Automotive & Mobility TechnologiesLogistics & Transportation ManagementFintech & InsurtechMoney Transfer & ManagementTarget Customer
Transportation & LogisticsLogisticsFinancial ServicesEnterprise & Professional ServicesSMBs & SMEsCore Technology
Artificial IntelligencePlatforms & InterfacesAPITags (4)
fintechfreightsupply-chainartificial-intelligence40Seas Financials
$17M
Total funding
Undisclosed
Capital raised
$6M
Last funding
Seed
Funding stage
3
Total rounds
4
Investors
Cumulative Funding Raised Over Time ($)
$6.0MAug 2023
$106.0MJan 2023
$117.0MJan 2023
Private Equity Funding
Seed
Aug 2023
$6M
Team8 (Lead)
,
QED Investors, Eminence Ventures
Debt Financing
Jan 2023
$100M
ZIM Ventures
Seed
Jan 2023
$11M
Team8 (Lead)
,
ZIM Ventures
40Seas Lifecycle
Cumulative Funding Raised Over Time
$6.0MAug 2023
$106.0MJan 2023
$117.0MJan 2023
All Events
Seed
Aug 2023
$6M
Team8 (Lead)
,
QED Investors, Eminence Ventures
Debt Financing
Jan 2023
$100M
ZIM Ventures
Seed
Jan 2023
$11M
Team8 (Lead)
,
ZIM Ventures
40Seas News
4 articles
growth-positive
How 40Seas solves cross-border payment issues
40Seas, a cross-border digital financing solution, recently raised $117 million, including a $100 million credit facility with ZIM. The company helps firms to order products and pay later, thereby aiding growth and reducing risk for sellers. The companys solution allows exporters to offer payment terms and workflow to foreign buyers without assuming any risk. The companys founder, Eyal Moldovan, believes this could help close a $5-$7 trillion financing gap in SME cross-border trade. The company is also well-positioned to help companies adapt to shifting supply chains.
InvestmentPartners
growth-positive
40Seas extends Seed round to $17 million for its cross-border digital financing solution | CTech
Digital financing solution 40Seas has secured an additional $6 million in Seed, bringing its total to $17 million. The round saw participation from new investors Eminence Ventures and QED Investors, as well as existing investors Team8 and ZIM. The funding will be used for the companys U.S. and Asian expansion. 40Seas also announced the expansion of its strategic partnership with ZIM, which has provided the company with a $100 million credit facility. The partnership will provide ZIM’s global customer base with an embedded and flexible digital financing solution to ease the burden of freight and inventory expenses.
InvestmentPartnersExpand
growth-positive
ZIM Expands Partnership with 40Seas to Offer Flexible Digital Financing Solutions to its Customer Base
ZIM Integrated Shipping Services Ltd has expanded its partnership with cross-border trade financing platform 40Seas. The collaboration will integrate 40Seas digital financing solution into ZIMs website and its digital freight forwarding subsidiary, Ship4wd. The service will be gradually rolled out in the US, Canada, UK, France, Germany, Italy, Belgium, Netherlands, and Australia. Customers will be able to defer payment for freight charges for up to 90 days from the invoice date and leverage 40Seas credit line to finance cargo. ZIM participated in 40Seas $11 million seed funding round and provided a credit facility of up to $100 million.
PartnersCustomersInvestment
growth-positive
40Seas, a New Fintech Platform Designed to Modernize Cross-Border Trade Financing, Secures Funding of $111 Million from ZIM and Team8
Fintech startup 40Seas has raised $111 million in funding to provide a more efficient and cost-effective financing framework for SMEs involved in global trade. The funding round, led by Team8 with participation from ZIM Integrated Shipping Services Ltd., comes as 40Seas emerges from stealth mode. The company aims to close the $1.7 trillion global trade finance gap by leveraging AI and data-driven technology to offer flexible payment options. 40Seas has already financed transactions for dozens of SMEs since its soft launch in October 2022 and is expected to finance tens of millions of dollars in the coming months. As part of their strategic cooperation, ZIM has extended a three-year, account receivables-based, senior secured, revolving credit facility of approximately $100 million to 40Seas.
InvestmentPartners
40Seas Team
Employee Info
| Employees (range) | 11-50 |
| Exact count | 28 |
| Team members | 7 |
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40Seas Internal
Recent Updates
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Admin Info
| Confidence | 90/100 |
| Missing | video or image, markets, not claimed |
| BI Verification | Jenny Sotnik-Talisman |
| Registrar ID | 516549094 |
| Crunchbase | 40seas |
| Creator | Ortal Wein |
| Creator email | ortalw@sncentral.org |
| Last updater | Jenny Sotnik-Talisman |
| Updater email | jenny.sotnik@sncentral.org |
| Last update | 2024-04-04T00:00:00.000Z |
| Created | 2023-01-11T00:00:00.000Z |
| Claimed | Yes |