Secro, a pioneering digital platform for global trade finance, has successfully closed an oversubscribed $10 million Series A funding round, signalling a significant advancement in the bid to modernise the $20 trillion trade market. Founded by Michele Sancricca, who serves as co-founder and CEO, Secro aims to replace outdated, paper-based processes that have plagued the trade finance sector. As Sancricca noted, “Trade finance remains reliant on outdated processes that increase fraud, delay transactions, and inflate capital costs. Secro was created to change that.” The funding round was led by Assembly Ventures and Sway Ventures, with participation from prominent strategic partners including Signal Group and Wilhelmsen.
The necessity for such a transformative approach is evidenced by the current inefficiencies plaguing global trade. Traditional systems can take 20 to 30 days for transaction processing—a timeline significantly reduced by Secro, which enables execution in just a few hours. This swift turnaround not only enhances operational efficiency but also helps to lower capital costs by approximately 2-3%, attributed to improved risk transparency. The platform is already trusted by five of the world’s top ten commodity traders and boasts over 130 enterprise clients.
Secro achieves these efficiencies through its innovative approach to digitising and tokenising trade documentation. This technological shift allows for secure, intelligent workflow automation and facilitates ultra-compliant, real-time execution—essentially streamlining the financial infrastructure required for international trade. As Jessica Robinson, co-founder and Partner at Assembly Ventures, expressed, “Secro is redefining the infrastructure of global commerce… their platform delivers the trust, speed, and intelligence that modern trade demands.”
As part of its growth strategy, Secro is actively enhancing its integration capabilities with various stakeholders, including insurance carriers and lenders, as well as optimising its AI features for better risk assessment and fraud detection. The establishment of its EMEA headquarters in Geneva marks a strategic move towards bolstering its global reach, enabling closer collaboration within this critical hub for trade and finance.
In a broader context, Secro’s innovations come amidst a global shift in trade finance technology. For instance, other platforms such as Marco and CredCore have recently secured substantial funding, highlighting a growing recognition of the need for advanced solutions in this sector. Marco, a Miami-based trade finance platform, raised $12 million to support Latin American SME exporters, while CredCore focused on enhancing AI capabilities in the debt capital markets with a $16 million infusion.
With over $1 billion in shipments already digitised, Secro is set to further drive a reduction in friction, unlock liquidity, and introduce robust security measures within the global trade landscape. “This investment allows us to scale a globally trusted platform that reduces friction, unlocks liquidity, and introduces real security to global commerce,” Sancricca asserted, underlining the pivotal role Secro aims to play in the future of trade finance.
As Secro continues to expand its technological capabilities and global presence, it stands as a testament to the ongoing evolution within the trade finance space, demonstrating how digitalisation can fundamentally reshape established industries. With a clear focus on enhancing transaction efficiency and security, the platform is poised to lead the charge in modernising a crucial component of the global economy.
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Source: Noah Wire Services
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