Tulyp funding news – Paris-based Tulyp Secures €1.5 Million in Seed Funding

Tulyp is dedicated to making sure that SMEs have access to trade financing services on par with major enterprises, and it has clients on three continents. In order to do this, the firm offers a cutting-edge, seamless platform that levels the playing field for smaller companies in international marketplaces by digitising and securing the whole trade financing process.

Even while trade finance accounts for 6% of the world economy, it has a special difficulty meeting the demands of smaller companies. 10% of global commerce, or a significant $1.7 trillion shortfall in trade finance, was shown by an Asian Development Bank analysis in 2020 alone.

Read also - Harbor Lab funding news – Greece-based Harbor Lab Secures €14.7 Million in Series A Round Funding

This disparity stems in part from the industry's sluggish modernization in contrast to other financial sectors that are embracing digital technology at a rapid pace. Large companies profit from these developments, which increase the openness and efficiency of the supply chain, while SMEs are frequently left behind because of their small size and fragmented structure.

Nicolas Mazza, CEO of Nama Enterprise said: “Since integrating Tulyp into our operations at Nama Enterprise, it has revolutionized our business by enhancing security and transparency, making transactions risk-free and efficient. Tulyp’s user-friendly interface and seamless workflow integration have simplified previously complex processes and provided transparency throughout the transaction lifecycle. Tulyp has supported our expansion into new markets, including large-scale trades and bulk shipments to Vietnam, playing a crucial role in facilitating smooth and secure transactions. Our partnership has been invaluable in mitigating risks and scaling our trading operations significantly.”

The purpose of this additional funding is to help Tulyp expand faster and improve its service offerings in important areas. This will be achieved, among other things, by enhancing the platform's functionality and scalability. In addition, will be able to enhance the added-value services it provides to clients by forming new strategic alliances with goods forwarders and B2B finance firms it to the funds raised.

It is committed to growing its worldwide footprint and bolstering its market presence, and it also wants to accelerate client acquisition in its two strongest markets—Europe and Asia.

Maxime Girres, CEO and founder of Tulyp stated: “After more than 2 years of hard work and iteration, we are really proud that Tulyp is now live with active clients on three continents. Bringing new key partners like SpeedInvest, Kima Ventures, Purple Ventures and strategic Business Angels will help us scale our client offering and onboard new clients. By helping SMEs develop their business all around the world, we truly believe that Tulyp is opening a new era for SMEs in trade finance! It is now a new chapter in Tulyp’s growth that we are looking forward too!”.

Alexis Majos, Principal at Speedinvest mentioned: “We are very excited to be investing in Tulyp for its role in revolutionizing SME trade, addressing the trust deficit and financing inefficiencies in international transactions. There is a $500bn trade finance gap in the segment, and we believe that Maxime and his team are the pioneers that will tackle it with the right product.”

Alexis Robert, Partner at Kima Ventures stated: “We had been looking for a startup in trade finance for a long time, and one that would disrupt the letter of credit that is slowing down our commercial exchanges. With Tulyp, we have discovered a passionate team and are very happy to support them with Kima Ventures”

About Tulyp

A FinTech company with a focus on trade finance is Tulyp. The Tulyp solution helps global trade participants with their finance, liquidity, and payment assurance needs. Tulyp, which is based on centralised technology, operates in complete transparency, enabling businesses to engage financially in the most effective way while reducing counterparty risk without the need for a third party.