ASB backs blockchain startup’s $2.7m raise

Auckland based startup company TradeWindow has raised $2.7 million in a seed round, in which ASB bank owns a stake of 21%. TradeWindow sells SaaS (Software as a service) supply chain solution to eliminate all the complex components in an export or import order.

This makes ASB bank, the second-largest shareholder of TradeWindow after its founder AJ Smith. The seed round also saw the New Caledonia-based Leroux office and their Auckland-based partner Te Hana consulting. ASB bank is the Commonwealth Bank of Australia, operating from New Zealand that provides a wide range of financial services including business, retail, fund management, and insurance, to name a few.

This partnership with the ASB bank focusses on helping the companies to get a single dashboard that will have all the elements starting from payment gateways to insurance to regulating customs paperwork.

At the launch, AJ Smith said,

We have rapidly progressed the product’s capabilities and now that it has been thoroughly tested and validated, TradeWindow is very close to commercial launch. This is piquing the interest of some of the region’s most experienced exporters, carriers, banks, ports, and airlines.

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