Israel provider of electronic bills WaveBL has completed a $26 million Series B financing round led by NewRoad Capital Partners. Existing investors ZIM, Marius Nacht, Contour Venture Partners, Frank Sica, and Techstars Central LLC also participated in this funding round, along with new investor, Reefknot Investments, backed by Temasek and Kuehne + Nagel.
The funds will be used to consolidate WaveBL's position as a leading player in the digital trade document sector globally.
WaveBL has developed a digital platform for the electronic transfer of trade documents. The company's proprietary blockchain technology enables immediate, secure, and authenticated transfer of unique electronic trade documents, ensuring compliance with universal processes and regulations. WaveBL's multi-carrier platform is trusted by the world's largest ocean carriers and NVOCCs, including MSC, ZIM, Hapag Lloyd, ONE, Leschaco, and Saco, and is designed to meet the needs of all parties involved in trade.
Wave BL CEO Noam Rosenfeld said, "Our goal is to streamline, speed up and reduce the cost of global commerce by breaking the trade industry's paper addiction. We offer blockchain technology as the new gold standard for trust between trade partners, a game changer for international trade. The investment will be used to expedite our growth by increasing our employee base, primarily in sales, marketing, and R&D."
Published by Globes, Israel business news - en.globes.co.il - on June 6, 2023.
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