Fintech Startup Avenews-GT Announces $3 Million Fund Raise From Global Holding Group
Summary
“The streamlining and promotion of agriculture today are a central focus of global attention as we work to solve the problem of food insecurity for billions of people. Increasing access to farmers mostly in developing countries for supply chain digitization, credit and other banking services through Avenews-GT’s fintech platform will advance this goal, and we are excited to take part in this important effort,” said XT Hi-Tech Chairman Udi Angel. “As someone who grew up in an agricultural community, I know first-hand the challenges farmers face when trying to connect with buyers in an increasingly digital world,” said CEO Shalom Ben-Or. “At Avenews-GT, we offer clients a way to manage their business and trade operations through a single, paperless system that can track their sales and contracts, and open access to financial institutions.” Currently, Avenews-GT works in collaboration with the largest banking groups on the African continent, where agriculture accounts for about a third of gross domestic product. The companys platform enables digitization of the agricultural supply chain so agri-businesses can run their entire business operation through a set of management tools, that control inventory, generate trade documents and initiate payments directly to counterparties.
Funding
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