Company Overview
Snapshot
Founded in April 2017 by Shalom Ben Or, Ishai Ben Or, and Ismail Kharoub, Avenews operates with 11–50 employees. The company has raised $3.6 million across two funding rounds from three investors. In January 2021, Avenews secured a seed round from XT Venture Capital, highlighting ongoing investor confidence in its agribusiness financial management platform.
Business overview
Avenews develops a digital agribusiness management platform designed to create an infrastructure for financial institutions to provide services to their agribusiness customers operating across supply chains in emerging markets. The platform enables agribusinesses to manage operations including inventory, invoices, orders, and payments, while providing financial institutions access to previously unavailable agribusiness data to reduce risk and distribute financial services. Every interaction on the platform is stored on the Avenews blockchain, establishing a digital economic identity for each agribusiness. The company primarily serves the Fintech & Insurtech sector, with a focus on agriculture and food technologies, and operates globally, including in Africa and Argentina.
Strategic signal
In February 2021, Avenews announced a $3 million fundraise from Global Holding Group, following a seed round in January 2021. This significant capital injection underscores investor confidence in Avenews' blockchain-powered financial management platform for agribusinesses, signaling strong potential for market expansion and further development of its digital infrastructure to bridge gaps between financial institutions and the agricultural industry in emerging markets.
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- What is Avenews' primary focus?
- Avenews focuses on providing a digital agribusiness management platform that facilitates financial services for agribusinesses in emerging markets, leveraging blockchain technology to create digital economic identities.
- When was Avenews founded and by whom?
- Avenews was founded in April 2017 by Shalom Ben Or, Ishai Ben Or, and Ismail Kharoub.
- What significant funding did Avenews receive in early 2021?
- In February 2021, Avenews announced a $3 million fundraise from Global Holding Group to support its growth and platform development.
- How does Avenews utilize blockchain technology?
- Avenews stores every interaction on its platform in a verified asset on the Avenews blockchain, creating a digital economic identity for each agribusiness across the supply chain.
- Which markets does Avenews primarily serve?
- Avenews primarily serves agribusinesses and financial institutions in Africa and Argentina, with a global reach.