• News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
MSME Africa
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
MSME Africa
No Result
View All Result

FrontEdge Raises $10M to Revolutionize African Cross-Border Trade for SMEs

Blessing Joseph by Blessing Joseph
November 24, 2023
in Africa, Business, FinTech, News, Trade
0
FrontEdge Raises $10M to Revolutionize African Cross-Border Trade for SMEs
Share

FrontEdge, a Lagos-based digital trade-finance platform, has secured $10 million in debt and equity funding led by TLG Capital, alongside investors such as digital freight forwarder Flexport. This financial boost aims to empower SME exporters and importers across Africa, facilitating their growth and competitiveness in the global market.

Founder, Moni Alli highlighted the challenges faced by SMEs in accessing trade finance and support throughout the export process, emphasizing FrontEdge’s mission to address these barriers. The platform, established in 2021, offers a seamless technological solution, managing financing, logistics, insurance, foreign exchange, and cross-border payments for traders moving goods across borders.

Having observed the hurdles faced by SME exporters firsthand, Alli’s platform steps in to bridge working capital gaps by providing upfront cash based on transaction-based underwriting, without requiring collateral, unlike traditional banks. This approach accelerates financing and reduces the cost of serving SME exporters, enabling them to fulfill more orders and grow their businesses.

FrontEdge aims to become a comprehensive digital operating system for African traders, facilitating trade as a one-stop-shop that provides both working capital and essential software tools. The platform aspires to support sustainable development goals by empowering African entrepreneurs and ensuring sustainable sourcing practices while enhancing job creation.

With a vision to expand across the continent, FrontEdge has begun operations in West Africa, targeting a substantial opportunity in Africa’s $1.2 trillion annual international trade volumes. TLG Capital expressed pride in supporting FrontEdge’s mission, believing in its potential to solve critical issues for African traders and provide access to capital for exporters.

FrontEdge’s commitment aligns with UN Sustainable Development Goals, focusing on Increasing economic growth (Goal 8) and eradicating hunger (Goal 2) while empowering African entrepreneurs and promoting sustainable sourcing practices.

 

Post Views: 44
Share

Related Posts:

  • MSME Africa Unveils Top 50 Remarkable MSME Founders 2023, Awards them $25,000 in Media Credits
    MSME Africa Unveils Top 50 Remarkable MSME Founders…
  • Best Cities to live as an Entrepreneur in Nigeria
    Ultimate 2024 Guide to the Top Business Enabling…
  • Africa must prepare for the inevitability of a global food crisis - Akinwumi Adesina
    Overcoming Binding Constraints to Competitive…
  • Nigerian Government Agencies that Support Entrepreneurship
    Nigerian Government Agencies that Support…
  • How African Startups Can Secure Funding in Tough Markets
    How African Startups Can Secure Funding in Tough Markets
  • 15+ Bank Initiatives, Programs and Products for Nigerian Entrepreneurs
    15+ Bank Initiatives, Programs and Products for…
Tags: African Cross-Border Trade for SMEsFrontEdgeMSME AfricaMSMEsSMESMEs
Previous Post

FG Plans SME Council Inauguration to Boost Over 40 Million Small Businesses

Next Post

Orange Introduces “Max it” to Simplify Everyday Life for People in Africa and the Middle East

Next Post
Orange Introduces "Max it" to Simplify Everyday Life for People in Africa and the Middle East

Orange Introduces "Max it" to Simplify Everyday Life for People in Africa and the Middle East

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
Join MSME on Whatsapp
Subscribe To Our Newsletter
Enter your email to receive a weekly round-up of our best posts. Learn more!
icon
By subscribing, you agree with our privacy policy and our terms of service.

Recent Posts

  • FG Engages Japan for $110 Million Food Security Loan
  • Nigeria’s Telecom Regulator Develops National Cybersecurity Framework to Tackle Growing Digital Threats
  • APM Terminals Launches First Zero-Carbon Recycling Hub in Apapa to Tackle Plastic Waste
  • Ilorin Innovation Hub Partners with Paystack to Boost Kwara’s Startup Ecosystem
  • Oando Secures $375 Million Loan Upsize to Boost Oil and Gas Expansion Plan

Recent Comments

  • 10 Reasons Why SMEs Should Invest in Video Marketing - MSME Africa on How to Create Viral Videos for Social Media in 2024
  • link alay4d on 5 Nigerian-based Companies Providing Accelerator Programs for Startups in 2024
  • Damilare Oladeji on Nigerian Government Agencies that Support Entrepreneurship in 2024
  • situs alay4d on 50 Best Tools to Boost Your Productivity as an Entrepreneur in 2025
  • Otabor Osayomore Blessing on Ultimate 2025 Guide to the Top Business Enabling Cities for Startup Founders and Entrepreneurs in Nigeria
  • About us
  • Advertise with Us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.

No Result
View All Result
  • About us
  • Advertise with Us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.